validation_500.csv

Company;Date;Sentences;LS;GPT4
IMERYS S.A.;2022-04-29;"Let me now, on this last slide, wrap up the presentation. Needless to say, that we live today in a more uncertain economic
and in particular, geopolitical environment. For this reason, I believe pricing discipline and cost control will and must
remain a key area of focus for the group.";1;1
IMERYS S.A.;2022-04-29;"It
would make sense to postpone this Capital Market Day for H2 or what's your take on that?
 Alessandro Dazza
Chief Executive Officer
Again, I'll take the second as a first question, not because of the war, but for other reasons, especially the current general
geopolitical and economic situation, we have decided to move our CMD to September. The date has been set and will be
communicated, I guess in the coming days by Benson and our IR team.";3;3
HICL INFRASTRUCTURE PLC;2022-05-25;"HICL has delivered a 9% per annum total shareholder return on a NAV basis since IPO. That spans 2 recessions, Brexit,
COVID and now, of course, a heightened geopolitical and macroeconomic conditions. HICL's strong inflation correlation,
low beta and predictable yield ensures that HICL remains a core holding for all seasons.";1;1
MASTERCARD INCORPORATED;2019-07-30;"On the macroeconomic environment, consumer sentiment and spending remained relatively strong with
some moderation versus 2018 as expected. We are continuing to monitor ongoing trade negotiations and
other economic and geopolitical factors, which are showing signs of weighing on business sentiment in
particular.

 MASTERCARD INCORPORATED FQ2 2019 EARNINGS CALL  JUL 30, 2019";3;1
PRINCESS PRIVATE EQUITY HOLDING LIMITED;2023-02-28;"So it's like a kind of a consolidation on a
look-through basis. And you will see that the last 12 months revenue growth of 23.8% in a very difficult economic environment, with
inflation, with geopolitical turmoils and so on.
 We've got a last 12-month EBITDA growth of 16.1% and a margin of stellar 20.5%.";1;1
THE ANDERSONS, INC.;2023-08-02;"And at the midpoint of the year, we are very pleased with our results year-
to-date. We knew that our record second quarter of 2022 results would not repeat given several of the geopolitical and global market
events that occurred last year. That said, our year-to-date results are very strong.";1;1
THE ANDERSONS, INC.;2023-08-02;"What
it does mean is that volatility in a macro sense coming back to The Andersons I think it plays right into our hands for merchandising
opportunities. So again, a very long winded answer, Ben, to tell you about what's going on in the market, weather and geopolitics, but
that's the exciting news of what's happening today.
 Benjamin Shelton Bienvenu
Stephens Inc., Research Division
That's great, Pat.";2;2
PI INDUSTRIES LIMITED;2017-08-14;"you said that there has been an increase in the inquiry level. As --
is that something to do with geopolitical tension, which is going on with, let's say, China and Japan. And given our strong
forte and relationship with Japanese companies, are we seeing incremental market share getting shifted towards India or
any other country for that matter?";3;3
COMMERCIAL METALS COMPANY;2022-10-13;"The last 3 years have exposed the vulnerabilities
of concentrated global supply chains, structured to operate under stable conditions and cooperative political regimes. Pandemic,
geopolitical events have reminded us of the need for a more distributed set of sourcing options, ensuring reliability and flexibility in
securing critical materials and equipment. Eventually, we expect reshoring to extend well beyond the areas we just discussed.";3;3
GJENSIDIGE FORSIKRING ASA;2023-01-25;"We will stay ahead of claims inflation. And unless the current geopolitical
situation becomes dramatically worse, we do not expect to see any significant negative spillover to our underwriting result. We will
continue to create value for our stakeholders, including paying out attractive dividends to our shareholders.";1;1
GJENSIDIGE FORSIKRING ASA;2023-01-25;"Thomas Svendsen
SEB, Research Division
Okay. But are there any sort of risks sort of outside the model that you are sort of concerned about, I think, about geopolitical issues,
et cetera, and wanted to have sort of an extra buffer compared to a normal state?
Jostein Amdal
Executive VP & CFO
No.
Geir Holmgren
Chief Executive Officer

GJENSIDIGE FORSIKRING ASA FQ4 2022 EARNINGS CALL  JAN 25, 2023
 Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc.";4;4
GJENSIDIGE FORSIKRING ASA;2023-01-25;"spglobal.com/marketintelligence
17
No. As we see the geopolitical situation at the moment, we are not worried about the impact on our business. If it is dramatically
worse at one time, it can have some consequences.";1;1
ALAMO GROUP INC.;2020-10-29;"Forward-looking statements involve known and unknown risks and uncertainties, which may cause
the company's actual results in future periods to differ materially from forecasted results.
 Among those factors which could cause actual results to differ materially are the following: market demand, COVID-19
impact, competition, weather, seasonality, currency-related issues, geopolitical issues and other risk factors listed from
time to time in the company's SEC reports. The company does not undertake any obligation to update the information
contained herein, which speaks only as of this date.";1;1
KONINKLIJKE VOPAK N.V.;2017-08-18;"It's clear that we would not exceed the results of 2016 being the highest in the last 5 years period.
 Besides the geopolitical developments, our volatility in energy markets, which have been taken into
account in our outlook; the rapid depreciation of the U.S. dollar from around 1.06 in February this year
when we published our 2016 results to around 1.17, 1.20 recently, is expected to put some downward
pressure on our to-be-reported second half 2017 results, on which I will come back when addressing the
outlook for 2017.
 The average occupancy rate for the first half year 2017 is 91%, 3% point lower than the 94% in 2016.";3;3
KONINKLIJKE VOPAK N.V.;2017-08-18;"The reasons for that bandwidth
of volatility is not because of the structural fundamental role we play with our infrastructure in bridging
continents and in on-shoring that supply and demand imbalances, and the resulting physical flows are
properly handled, stored and shipped. The volatility, of course, is due to geopolitical developments,
trading environments, energy situations, and et cetera, et cetera. And the question is, indeed, what will
happen in 2018, we are confident that we are well positioned.";1;1
NORDSON CORPORATION;2023-05-23;"Our conversations, our customers are pretty bullish about the long-term prospects for this business. As you know, given geopolitical
considerations, given that CHIPS Act is going to come in, what you find our businesses benefit from CapEx expenditures that are
allocated from these kind of investments our customers are making are typically towards the end of their construction. So right now,
people are constructing plants, they would eventually start putting in equipment.";2;3
INTERCEDE GROUP PLC;2023-11-22;"Again, what we're starting to see is insurance companies not offering people cybersecurity insurance unless they've at least achieved
that basic level of cybersecurity, and that promotes MFA. So in the U.S., in Europe, we're starting to see increased drivers for stronger
authentication partly because of the increase in criminal hacking, partly because of the geopolitical climate, but driving more people
towards our technology in more regions.
 Klaas Peter van der Leest
CEO & Director
So government regulation is absolutely good for us as [ highly ] associated standard, which is very much reflected in our client
base.";2;2
BADGER INFRASTRUCTURE SOLUTIONS LTD.;2022-08-11;"Market indications suggest that non-destructive excavation equipment will be in high demand and more difficult to source
over the next several years, which makes Badger's market position and vertical integration that much more valuable.
 Unless there are additional geopolitical or macroeconomic disruptions, we see conditions to be favorable for continued
progress in growing the business, improving our operating leverage and returning to historical margins as the recovery
continues and we execute on our commercial strategy.
 I'll now turn the call over to Darren to discuss our financial results.";1;1
S.J.S. ENTERPRISES LIMITED;2023-05-16;"On the CSR front, the company supported education and health initiatives for
over 1,200 children across 10-plus government schools. So during this quarter, SJS has grown ahead of the industry despite various
external challenges like regulatory headwinds in the domestic 2-wheeler segment, impact on exports due to the prolonged geopolitical
issues and the macroeconomic headwinds like inflation, rising crude prices impacting demand recover in consumer appliances.
 Just to update you, the government announced implementation of stricter environmental OBD-2 norms with effect from 1st of
April '23.";1;1
S.J.S. ENTERPRISES LIMITED;2023-05-16;"All Rights reserved.
 spglobal.com/marketintelligence
7
Share of business from our export declined due to adverse impact of geopolitical issues and macroeconomic challenges in many
regions. Decline in export also impacted sale of new generation products to a certain extent and hence overall contribution of new
generation products to revenue is 9% to 10% for FY '23.";3;3
ECHOSTAR CORPORATION;2022-05-05;"Industry partners and customers want to work
with our team. Government and enterprises alike would prefer working with a trusted partner during uncertain geopolitical
developments as we are experiencing today.
 Third, we have a tremendous, and I would say, unmatched asset in our engineering capabilities.";2;2
CRESCENT ENERGY COMPANY;2023-03-08;"Todd Falk, Chief Accounting Officer and Ben Conner
and Clay Rynd, both Executive Vice Presidents, are also here today and available during the Q&A.
Today's call may contain projections and other forward-looking statements within the meaning of federal securities laws. These
statements are subject to risks and uncertainties, including commodity price volatility, global geopolitical conflicts, our business
strategies and other factors that may cause actual results to differ from those expressed or implied in these statements and our other
closures. We have no obligation to update any forward-looking statements after today's call.";1;1
ORKLA ASA;2022-05-05;"The improvement in EBIT in this quarter for Foods should be seen in light
of the Go Live with a new ERP system in Sweden in Q1 last year, which incurred higher costs and temporarily a lower
productivity.
 Significant price increases have been implemented through -- in all markets, while the latest cost pressure arising from the
geopolitical situation requires further pricing actions this year.
 Let's then move to Confectionery & Snacks.";1;3
CHEMTRADE LOGISTICS INCOME FUND;2022-08-11;"North American rig count was 950 in July 2022 compared to 606 on average in 2021 and 522 in 2020. We expect this
trend to continue to improve as geopolitical conflicts drive increased exports of LNG from North America to Europe,
resulting in higher fracking activity.
 As a reminder, caustic soda and chlorine are co-products and that we can upgrade chlorine to hydrochloric acid.";2;2
CNH INDUSTRIAL N.V.;2022-07-29;"We finished the first half of 2022 with record second quarter
revenues, up 17.5% year-over-year in spite of a 3% currency headwind. I am proud of the team's resolute performance in
the face of the dynamic and challenging global economic and geopolitical environment.
 Their efforts exemplify our commitment to meeting our agriculture and construction customers' needs as their customers
depend on us to feed in-house an ever-growing population.";1;1
CNH INDUSTRIAL N.V.;2022-07-29;"Dillon Gerard Cumming
Morgan Stanley, Research Division
Just wanted to check in on the European side of the portfolio. I think, Scott, you mentioned that kind of the order trends
have been holding up a bit better in the context of all the geopolitical dynamics over there. Just kind of curious if you could
reconcile some of the deterioration we've seen in some of the sentiment";1;1
NEW RESIDENTIAL INVESTMENT CORP.;2020-07-22;"And then around that, think about the upcoming election and
recent ruling by the Supreme Court that could end up impacting the FHFA as far as who runs that, being a presidential
appointee. Can you talk about any positives or negatives that either could benefit or hurt you guys as you think about the
changes taking place in the...
Michael Nierenberg
Chairman, President & CEO
So on -- from a macro perspective, on the geopolitical side, I can't help anybody there. We don't have any control on
what's going to happen with CFPB and FHFA and what we need to do is continue to perform for our customers and
continue to do what we need to do there.";1;1
CONOCOPHILLIPS;2022-05-05;"We are fortunate that the United States has abundant resources to
ensure our own energy security. These resources also provide vital geopolitical benefits. Secure U.S. energy exports
serve as a market stabilizing factor, enabling our allies to better withstand energy blackmail by hostile and unreliable
resources.";2;2
MODINE MANUFACTURING COMPANY;2021-02-05;"We continue to monitor a number of issues that may impact our raw material costs, including tariffs and the rollback of
certain exclusions that we benefited from in the past. We are always working to improve our manufacturing and supply
chain strategies, which have been complicated by geopolitical and economic trends, including tariffs. This will continue
to be a focus as we analyze our risk and implement mitigation strategies.";3;3
INTELLECT DESIGN ARENA LIMITED;2023-05-12;"Related to risk, a fourth question. Yes, geopolitical risk we have seen over the last 7 years, starting from Brexit to Trump, then to
Ukraine War to now U.S. and America crash of the banks, those are part and parcel of our business portfolio. It does impact 2 to 3
quarters when the industry start assimilating the impact of such kind of a risk.";3;3
PRIO S.A.;2023-11-01;"You were just structuring this new area of the
company. And there was a concern about the sale process because the scale of the company was changing a lot in this new geopolitical
context and the war. There were some changes in the sales flow of the oil.";3;3
TORM PLC;2019-08-15;"That would be a significant risk. So if I
take that risk -- then the other risk would be that I think the geopolitical environment, and there is quite
a lot of things going around there, would have a negative effect on consumers, on decision-makers in
general and that you would have an abrupt halt to the -- albeit this slower growth but still growth in the
world economy, but that you would simply see a recession worldwide due to geopolitical factors. And those
would be the 2 things that you could see as scenarios which would be negative and which would change
our outlook.";1;1
TORM PLC;2019-08-15;"And if I take the second one, I'm -- basically, I have not much more control than anybody else, obviously.
 The geopolitical environment seems to be changing by each week. So I don't think we should try to get
into that too much.";4;4
ADIDAS AG;2019-11-06;"Starting with emerging markets. They increased 14% despite geopolitical tensions in some countries and
the segment's operating margin decreased actually by 250 basis points as the gross margin normalized
and was only partly offset by a lower OpEx ratio.
 Revenues in Latin America increased 5% despite an unfavorable macro backdrop and political turmoil
in several countries.";1;1
INVESCO LTD.;2017-01-26;"Presentation
....................................................................................................................................................................
Unknown Executive
This presentation and comments made in the associated conference call today may include forward-
looking statements. Forward-looking statements include information concerning future results
of our operations, expenses, earnings, liquidity, cash flow and capital expenditures, industry or
market conditions, AUM, geopolitical events and their potential impact on the company, acquisitions
and divestitures, debt and our ability to obtain additional financing or make payments, regulatory
developments, demand for and pricing of our products and other aspects of our business or general
economic conditions. In addition, words such as believes, expects, anticipates, intends, plans, estimates,
projects, forecasts and future or conditional verbs such as will, may, could, should and would; as well as
any other statement that necessarily depends on future events are intended to identify forward-looking
statements.";4;4
SIGNIFY N.V.;2021-10-29;"But nevertheless, I believe this is something that we need to do
because it has other positive elements. I think it's -- if we are more continentally based, it will be probably more in line with
the geopolitical attentions that we see at this point in time, and it will help us at the level of our working capital probably to
alleviate some of the working capital that we have in some regions. If we source more locally, we are much, much faster in
terms of delivery, which has a lot of added collateral benefits.";3;3
EMAMI LIMITED;2018-10-30;"And that should help deliver good growth from
quarter 3, quarter 4 for us from CIS markets. And also in MENA region, particularly Saudi Arabia, we had
suffered a lot because of the demand issues, a lot of those geopolitical problems in those markets, a lot of
Indian expats were -- the Asian expats were getting deported with falling crude prices earlier last year. But
now all these things are getting back to traction.";1;3
PPG INDUSTRIES, INC.;2022-10-20;"Looking ahead to the fourth quarter, normal seasonal demand trends are expected, including lower sequential sales in most of
our architectural businesses and also in our Traffic Solutions business, where sales historically fall about 50% due to the weather
considerations.
 In Europe, we expect economic conditions to remain weak due to the softening consumer confidence and lower industrial activity
related to the significantly higher energy costs and geopolitical issues. In China, we anticipate weaker-than-normal economic activity
for the fourth quarter due to continued pandemic-related disruptions and slowing exports to Europe.";1;1
GLOBAL SHIP LEASE, INC.;2018-07-30;"And that's, we've contended, likely to
cause an improvement in the charter market and in asset values. And the proof of the pudding is kind of in
the eating because that's exactly what we've seen in 2018 year-to-date, notwithstanding some geopolitical
uncertainty.
 Angus Rosborough
You guys make the argument...
Ian J. Webber
Chief Executive Officer";1;1
AMPLIFON S.P.A.;2022-07-28;"And finally, we also expect to continue to grow faster than the market. All in all, in external scenario that remains very
volatile and uncertain, assuming, of course, no further significant deterioration due to the well-known issues related to the
pandemic inflation and the current geopolitical situation, we can today confirm our guidance for the year.
 Let me conclude by saying that, in any case, I firmly believe that Amplifon is today and more than ever best positioned
to turn any possible scenario again into an opportunity to strengthen faster, and harden our global leadership as we did
during the pandemic.";2;2
VIASAT, INC.;2023-08-09;"Michael Louie D DiPalma
William Blair & Company L.L.C., Research Division
On the government defense side , there's been a lot of publicity regarding how the Ukraine war and geopolitical tension in Asia has
triggered a robust demand for Starlink as a backup or even a primary source of defense connectivity. Has the Ukraine war also led to a
surge in demand for Inmarsat's Ka-band services?
Mark D. Dankberg
Co-Founder, Chairman & CEO
I think unlike others, I don't think we're going to go into great depth about what we're doing in specific defense communications.";4;2
FLUGHAFEN ZÃœRICH AG;2022-08-23;"But as
I have said in the guidance, we remain cautious on the outlook as being on the cautious and conservative side has been
proven as a good tactic for the last 2.5 years. So far into 2022, the recovery was better than expected, but there's still
some uncertainties around the development of COVID geopolitically that keeps us a little bit more on the conservative
side for the winter months.
 Stefan Weber
Head of Financial Services
Then his second question is on India.";1;1
FLUGHAFEN ZÃœRICH AG;2022-08-23;"So we are speaking of still sizable deviations to 2019 levels on the overall
passenger figures. So I believe the recovery will be stronger then recession or other geopolitical risks that are still in the
system just because the pandemic was such a big rupture. But of course, a recession could slow down the recovery, but
still in absolute figures, the recovery will continue next year.";1;1
PILBARA MINERALS LIMITED;2022-04-28;"spglobal.com/marketintelligence
17
a more sophisticated supply chain and do it with -- in relationships with people that are key to the future of the industry.
 And we would definitely put POSCO in that category because of the combination of the skill inside their organization, the
scale and ultimately being a key entree to the Korean market, Korea being the next big mover beyond China in lithium
ion battery-making capacity and a strategic entree to especially North America because of the geopolitical interaction and
important relationship between the U.S. and South Korea.
 Where do we do that elsewhere?";4;3
CHEVRON CORPORATION;2017-07-28;"Neil Singhvi Mehta
Goldman Sachs Group Inc., Research Division
I appreciate the comments, Jay. The follow-up is just on some of the areas of disruptive production or
areas that -- where there's been a lot of focus on geopolitical issues. I just wanted your comments on 3
areas in particular, recognizing there could be some limitations in terms of comments here.";4;4
MÃœNCHENER RÃœCKVERSICHERUNGS-GESELLSCHAFT AKT...;2023-02-23;"We could afford to do so without
affecting our financial targets while, of course, increasing earnings resilience going forward.
 Nobody, I think, could have known what geopolitical and macroeconomic turbulence 2022 would bring; the Russian war related
economic distortions, spiking inflation, the trend upwards in interest rates, heavily fluctuating capital markets. Consequence of all
this, our investment result came under pressure.";3;3
CVD EQUIPMENT CORPORATION;2022-05-16;"Our SDC, Tantaline and MesoScribe product lines continue to show demand in orders in Q1 and the first 4 months of
2022, albeit not to the extent of the CVD Equipment Group.
 The COVID pandemic and the geopolitical instability in Russia, Ukraine and Eastern Europe have caused issues in the
global supply chain. The negative impacts have been felt by all our companies with increases in commodity and product
materials cost as well as in delivery -- product delivery uncertainties and unpredictability.";3;3
GHCL LIMITED;2022-05-02;"But all these capacity, any likely color of this capacity will be beyond 2 years down the
line. Secondly, must understand that on the other side, there's a huge demand of the solar glass across the globe and
particularly now because of this geopolitical system, geopolitical conflict, a lot of focus has also started asking about the
green energy and solar is one of them.
 Second, you know that lithium battery also there's very huge requirement likely to happen in that area also.";3;1
INPHI CORPORATION;2019-04-30;"Paul Jonas Silverstein
Cowen and Company, LLC, Research Division
I've been called worse. Guys, I apologize returning to the issue, but just I think it was clear from
your comments, but to sort of make sure there's no room for doubt, you all clearly are not seeing any
extraordinary inventory build by Huawei relative to the geopolitical situation.
 Ford G. Tamer
President, CEO & Director
Paul, what we've said is we have seen inventory starting to build.";3;3
GARTNER, INC.;2017-11-02;"Technology has also become a critical factor in every
function of the enterprise; supply chain, sales, marketing, HR, finance, legal and the rest. And if that's
not enough, the business environment continues to be mixed; exchange rates, commodity prices, global
macroeconomic growth and geopolitical dislocations.
 Business leaders have never faced the rate of change they face today.";1;1
FOOT LOCKER, INC.;2022-02-25;"So it depends on how long and how rampant the inflation gets. Again, clearly, with some of the
geopolitical things going on, there's a wait-and-see. Is -- what the impact to that, that will be to the broader global market.";1;1
KIRKLAND'S, INC.;2022-05-31;"Like many of our
peers, our first quarter results were significantly impacted by lower customer demand and higher costs associated with
various supply chain constraints. Anyone who has been paying attention to the consumer commentary over the last few
weeks knows that the broader retail landscape is being notably affected by several concerning macroeconomic trends,
including rising interest rates, elevated levels of inflation, the ongoing geopolitical conflict between Russia and Ukraine
and increased supply chain costs stemming from higher freight costs and transportation rates.
 Kirkland's is not immune to these issues.";1;1
BRIDGESTONE CORPORATION;2022-05-11;"Raw material prices, natural rubber
prices movements were relatively calm. On the other hand, crude oil prices surged against the backdrop of geopolitical
risks.
 Tire demands in the OE segment, demand declined in all regions due to the shortage of semiconductors.";1;3
BRIDGESTONE CORPORATION;2022-05-11;"Let me try to respond with 3 perspectives or points in respect to the first one which we
just finished. First, as I explained earlier, we were able to meet demand through global sourcing despite the geopolitical
risks that were evident mainly in Europe. Global sourcing is one of the core competence of our group.";3;3
GFH FINANCIAL GROUP BSC;2023-02-13;"My name is Surya Hariharan.
 And today, I'm joined by our CEO, Hisham Al Rayes [indiscernible] 2022, successfully mitigated the impact of the geopolitical
crisis, rising inflation and market volatility by implementing the same robust model that saw the group through the pandemic times.
 Following a strategy of long-term sustainable growth, GFH was able to consolidate a position by also expanding its global footprint,
placing the group in good stead.";3;1
NETEASE, INC.;2018-05-17;"So overall, we remain very confident about both of our PC and mobile pipelines vis–à–vis
industry competition. [Foreign Language]
Lei Ding
Founder, CEO & Director
[Foreign Language]
Zhaoxuan Yang
Chief Financial Officer
For the E -- for the cross-border e-commerce, we see no impact from the recent geopolitical trade war on
the business. From a competitive landscape perspective, we are currently a leading player in the cross-
border e-commerce, and we are confident that we will maintain this leadership.";1;3
METRO AG;2022-02-10;"Very important to keep in mind, Russia itself is quite cash generative and therefore is standing on its own feet. And
probably, the question is a bit pointing towards any sort of geopolitical situations. We are very well prepared not only from
a cash and cash movement perspective, but also from other points of view.";1;3
PGT INNOVATIONS, INC.;2022-07-26;"Our strong Q2 results were driven by operational
improvement in the Southeast, including double-digit unit growth, improvements in scrap and improved labor efficiency.
 Aluminum availability has improved and LME spot pricing has steadily decreased, in fact, resulting from speculation
surrounding the geopolitical tensions between Russia and Ukraine have been minimal, although we continue to monitor
market price as well as the primary and secondary market production condition.
 Second quarter gross margin was 40.6%, 660 basis points higher than the prior year quarter and 310 basis points higher
than the first quarter of 2022, driven by price increases, manufacturing process improvements and unit growth.";1;1
CEVA, INC.;2020-08-10;"India, which is currently the second largest handset market by volume experienced a 48% year-over-
year decline according to Canalys report due to supply and demand constraints as a result of the Indian government
measure to control the spread of the virus.
 Let me take the next few minutes to walk you through our perspective on COVID-19 and the geopolitical tension between
U.S. and China. On COVID-19, recent market data from research firm GSMA Intelligence predicted that IoT net addition
for this year are expected to be down 45% on a yearly basis due to the pandemic.";1;3
CEVA, INC.;2020-08-10;"Furthermore, COVID-19 brings forward
new usage model for 5G, including Fixed Wireless Access, 5G-enabled PCs and V2X. With our latest CEVA-XC DSP
portfolio and our PentaG 5G-modem platform, we are well equipped and positioned to address this new usage model for
incumbents and newcomers.
 Onto the geopolitical tension between China and the U.S., the existing export control rules do not directly apply to our
current technology developed in Israel and Europe. We continuously monitor development on this front and are prepared
to adapt our business as required.";3;3
V.F. CORPORATION;2020-10-16;"For those of you that have stayed close to the VF story, you are familiar with our now and next approach in navigating the
most challenging days of the pandemic while also preparing ourselves to emerge stronger within what we believe will be
a new normal environment. While the global pandemic continues and certain geopolitical uncertainties persist, I believe
we are officially entering the next. That isn't to say the challenges brought about by the global pandemic are behind us.";1;1
DEXUS;2023-08-15;"And our current development pipeline is fully funded, providing
embedded future value by improving the quality of the portfolio while providing inventory to grow our third-party relationships.
 So to conclude, we are halfway through a challenging period, which will continue into FY '24 as capital flows and market sentiment
are impacted by inflation, rising interest rates and geopolitical risks, which all contribute to prolonged economic uncertainty. Based on
current expectations and barring unforeseen circumstances, Dexus expects distributions of circa $0.48 per security for the 12 months
ended 30th of June 2024, below FY '23 with the reduction driven by lower trading profits.";1;1
HMS NETWORKS AB;2023-07-14;"And also most of our customers, they are quite relaxed about the future. Of course, there's topics
about China and geopolitical things. But for most customers, things goes quite well, I would say.";4;4
CANADIAN NATIONAL RAILWAY COMPANY;2019-10-22;"Finally, let me turn to our 2019 financial outlook on Page 14. While volumes in Q3 came in below our
expectation and while economic weakness create -- and geopolitical issues are creating headwinds,
unemployment levels are still at record lows and consumer spending so far remains resilient.
 Manufacturing has softened significantly.";1;1
NOKIA OYJ FY NINE MONTHS;2022-10-20;"So overall, the picture is improving, but we still believe it will not be before the first half of
2023 before there are no longer material constraints on any part of the business.
 Finally, we fully recognize the ongoing macro and geopolitical uncertainty. If anything, those uncertainties have increased in recent
months.";1;1
NOKIA OYJ FY NINE MONTHS;2022-10-20;"All Rights reserved.
 spglobal.com/marketintelligence
16
a little bit hard to see in today's geopolitical environment that -- how that could change in a big way. China -- Greater China region,
which, of course, includes Taiwan, in our case, I think it's around 6% or something like that of our total.";4;4
RA MEDICAL SYSTEMS, INC.;2022-05-16;"You
should not place undue reliance on these forward-looking statements because they involve known and unknown risks,
uncertainties and other factors that are, in some cases, beyond the company's control and could materially affect actual
results.
 In particular, there is significant uncertainty about the duration and contemplated impact of the COVID-19 pandemic and
the military action by Russia and Ukraine as well as the impact other global economic conditions, including any economic
effect stemming from adverse geopolitical events, an economic downturn and changes to inflation or interest rates may
have on Ra Medical's business and results of operations, including its supply chain. This means that results could change
at any time and the impact of any of these events on Ra Medical's operations, financial results and outlook is the best
estimate based on information for today's discussion.";1;3
TERRAN ORBITAL CORPORATION;2023-03-21;"Our backlog includes over 60 satellites in various stages of completion, which we expect to deliver in the coming
quarters.
 Over the last year, escalating geopolitical tensions and new space technology advances drove unprecedented and urgent demand for
low earth orbit satellite solutions beyond even our earlier expectations. Our team has moved decisively and strategically to expand and
vertically integrate our production facilities.";2;2
BRIDGE INVESTMENT GROUP HOLDINGS INC.;2022-08-09;"And we coupled that with an
expanded senior secured revolving credit facility of $125 million, with the potential to increase to $225 million in certain
circumstances, giving Bridge enhanced liquidity and flexibility.
 The market environment has become more turbulent recently, with markets impacted globally by concerns around
numerous macro issues including high inflation, aggressive Fed actions and continuing geopolitical risks. The impact of
these factors on various markets differs, although all markets, including those in which Bridge participates, have been
affected.";1;1
AUDIOCODES LTD.;2023-11-02;"Additionally, we are gearing up towards a cloud-based multi-tenant software as a service application with full generative AI
integration, which is expected for GA early next year. Now to the geopolitical situation. Before I conclude, I'd like to briefly address
the impact of our operation from a war and recent developments in Israel.";1;1
REVENIO GROUP OYJ;2023-02-09;"Then if going to the market conditions. So overall,
not too many red flags currently related to the overall iCare market but, of course, some uncertainties related to geopolitical situation
plus the cost inflation. But otherwise, if looking at the overall iCare market, so that seems to be steady.";1;1
REVENIO GROUP OYJ;2023-02-09;"So let's go first through the logic, and then I answer the contribution question. So we did a bit more than half a year ago, half a year
ago, we did the decision that it would be really beneficial because the volatility in the geopolitical situation and then difficulties what
we had related to the regulatory approvals to actually have a team in China. So quite many are now pulling out from China.";3;3
UNITED MICROELECTRONICS CORPORATION;2024-01-31;"However, customer maintains a
cautious approach in their inventory management. Moving forward, UMC will continue to navigate headwinds amid an increasing
competitive landscape and swelling geopolitical tensions via diversified manufacturing base and differentiation in 12-inch specialty
technologies. Our 12-nanometer FinFET collaboration is a step forward in advancing our strategy of pursuing cost-efficient capacity
expansion and technology node advancement in continuing our commitment to customers.";3;1
JACOBS SOLUTIONS INC.;2023-08-08;"But those tailwinds aren't going anywhere and are probably less tied to inflation than other consumer-driven type of areas. And even
in the area that we have some exposure to the broader consumer, these are now in the world of life sciences and chips and broad-based
manufacturing that is tied to geopolitical as well as geoeconomic kind of reshaping of the world. So from a portfolio standpoint, we
feel strong.";2;1
VERISK ANALYTICS, INC.;2022-05-04;"The development of our Touchstone platform and Extreme Event Solutions, the LightSpeed product suite and
underwriting and the development of our life business are tangible examples of what we have delivered to clients.
 And in Energy, understanding the complex impacts of the energy transition and the geopolitical events continuing to
unfold in Ukraine, on the global energy economy, remain a primary customer focus through strong demand for improved
data delivery and analytics, and we continue to deliver on that demand for our customers through our Lens platform. In
fact, the first quarter was our fourth consecutive quarter of mid- to high single-digit ACV growth, helped by new multiyear
contracts, with material upsell for customers that are adopting Lens as they recognize the value of this new platform
delivers.";2;2
ENTEGRIS, INC.;2019-10-24;"There were a couple of very customer-specific situations for our SCEM business
to be down sequentially in China. But overall, we feel pretty good about the level of activity and our
performance in China, given the industry context and the geopolitical context in 2019.
 Krish Sankar
Cowen and Company, LLC, Research Division
Got it.";4;4
II-VI INCORPORATED;2019-01-31;"Operator
And our next question comes from the line of Paul Silverstein of Cowen.
 Paul Jonas Silverstein
Cowen and Company, LLC, Research Division
First off, and I apologize because I know you've been asked this question on more than one occasion
before including from myself, but can you review the geopolitical risk relative to China on both sides of the
equation, both in China and in the U.S.? And then I've got 1 or 2 more questions.";4;4
ALPHA BANK A.E.;2016-03-03;"Although rates have been substantially [indiscernible] Greece European partners agreed on [indiscernible],
recovery prospects are at stake if rates suffer [indiscernible] of reforms and delays in the standardization
program materialize.
 In addition, stable escalation for direct GPOs and geopolitical tensions has realized the persistence of
international [indiscernible] expected recovery. It is not clear yet what will be the impact of the tourism
arrivals on receipts, but I would like to [indiscernible] significant on the growth dynamics.";4;1
TENCENT HOLDINGS LIMITED;2023-03-22;"And as just a quick follow-up. As we could see from the recent more scrutiny from other social network platforms elsewhere on the
geopolitical region, do we see any risk on our gaming business as we continue to thrive internationally?
 James Gordon Mitchell
Chief Strategy Officer & Senior EVP";4;1
TENCENT HOLDINGS LIMITED;2023-03-22;"And if we do that, we think we can continue to [ creep ] up our market share in this very big $150 billion plus
international game market.
 On the geopolitical front, then, everything faces some degree of geopolitical risk. I think that the risks faced by the game industry
are dissimilar to the risks faced by social platforms that you alluded to, for a few reasons.";1;4
TENCENT HOLDINGS LIMITED;2023-03-22;"People don't go into a video game if they want
to watch CNN. So while I wouldn't say that games are absent from geopolitical risk, I think the nature of concerns around games is
different from the nature of the concerns around media platforms or social platforms.
 Wendy Huang
Investor Relations Officer
Next question comes from James [ Cartwell ] from [ Argentic ].

TENCENT HOLDINGS LIMITED FQ4 2022 EARNINGS CALL  MAR 22, 2023";4;4
HELICAL PLC;2023-05-23;"We also disposed of over GBP 230 million of properties that's almost 4% above book value, reducing gearing and increasing cash
and undrawn bank facilities. However, as Gerald has already stated, economic and geopolitical factors have affected bond yields, and
we've seen valuation declines across the portfolio, partly offset by gain at the JJ Mack building. These losses have turned what would
have been a profitable year into a net loss.";1;1
KLAVENESS COMBINATION CARRIERS ASA;2022-05-11;"We are seeing that year-to-date, the demand increase measured as
deadweight miles have increased by 2.5%, a seasonally low quarter. But a lot of things have happened, which are more
macro and geopolitical events. Starting up at the top of this graph in blue, you see the effect of the ban on Indonesian coal
exports, and the scale is 7 million tonnes per month.";3;3
CANADIAN NATIONAL RAILWAY COMPANY;2019-07-23;"Finally, let me turn to our 2019 financial outlook on page 12. While volumes in Q2 came in below our
expectations and while trade and geopolitical issues are creating significant volatility, unemployment levels
are still at record lows and consumer spending remains resilient. In the second half of the year, we're
counting on CN's specific revenue growth opportunities that continue to ramp-up such as the new Coalspur
thermal coal mine and the new propane terminal in Prince Rupert, both of which started shipping in Q2.";1;1
STEELCASE INC.;2022-12-20;"In the Americas, we estimate
volume decline by approximately 30% year-over-year, partially offset by more than 10% growth due to pricing benefits. Compared to
earlier this year, demand patterns are being impacted by softening industry trends, which we believe are linked to reduced sentiment
related to macroeconomic and geopolitical concerns. In addition, many customers remain undecided on their strategies to support
hybrid work.";1;1
MANPOWERGROUP INC.;2022-04-19;"Adjusted earnings per share increased 78% year-over-year in constant currency.
 Although geopolitical uncertainty has increased, we continue to see strong hiring intentions in most of our major markets
in Europe as well as globally. In this environment, our clients need us more than ever to provide them with the strategic
and operational flexibility to transform and be successful and to find workers on various skill levels in very tight labor
markets.";2;2
ARGENX SE;2022-03-03;"So we're not short
of upcoming catalysts. We announced in our press release this morning that the timing of the top line data from the
pemphigus trial is currently under review in light of the geopolitical situation in Ukraine. While exposure is limited, given
the global nature of the trial, we cannot reiterate our time lines until we have time to assess the situation more closely.";3;3
ARGENX SE;2022-03-03;"So all of our trials, by definition, are global trials. These are all rare indications that are all spread over
the globe and that turns out to be a strength when things hit you like COVID pandemic or in this case a geopolitical issue.
 So exposure is always going to be relatively limited, whatever study you're talking about.";1;1
UNITED STATES STEEL CORPORATION;2022-01-28;"Clearly, a great place to be. We know about the risks, the Fed taking rates up too fast, unexpected
changes to import restrictions, geopolitical risk, existential risks. The risks are many but we've seen it all before.";1;1
SAAB AB;2020-07-17;"It's
hard to predict how things will go, but I can't see any changes in the market place in terms of that countries will avoid
continuing with protecting their societies and protecting their countries. And the geopolitical situation is not going really
in the right direction. It's actually becoming a bit worse during the COVID-19.";1;1
GEORG FISCHER AG;2022-03-02;"The positive development at GF Machining
Solutions in the fourth quarter of 2021 is expected to continue in the coming months.
 The geopolitical tensions including the terrifying war in the Ukraine, the persisting COVID-19-related issues and supply
chain constraints reduced visibility even further. Assuming that these issues subside, the world and its leaders become
rational and diplomatic again, and no unforeseen circumstances arise, GF expect mid-single-digit volume growth in 2022,
and thus a further step towards achieving the targets of Strategy 2025 for sales and profits.";3;3
BRIGADE ENTERPRISES LIMITED;2022-05-13;"This is notwithstanding the deadly second wave of COVID-19 in 2021 as
well as huge jump in construction costs over the last 3 to 4 months.
 All raw material costs like steel, aluminum, copper, finishing materials, and fuel, among others, have been -- have seen
huge increases due to the global supply chain issues made worse by the geopolitical situation in Europe. As a result, the
total construction costs have increased almost up to 15% and are expected to rise or at least remain at elevated levels for
the next 12 to 18 months.";3;3
ALLIANCEBERNSTEIN HOLDING L.P.;2016-02-11;"By now, you've all heard about the challenges the asset managers faced in 2015 and in particular the
second half, and we were no different. Looking at the firmwide overview on Slide 3, you can see the
impact that weak client activity, volatile markets and heightened economic and geopolitical uncertainty
had on our results for both the quarter and for the year. Gross sales declined 10% year-on-year for the
quarter and 2% for the full year.";1;1
IOL CHEMICALS AND PHARMACEUTICALS LIMITED;2023-05-09;"Okay. Any headwinds which you like, the challenges which the company may face in the coming financial year?
Abhay Raj Singh
VP, Company Secretary & Compliance Officer
Sanjayji, we don't foresee any, but -- I mean, there can be the geopolitical situations we don't know and we can't comment on those --
emergence of geopolitical situations. But with regards to the product we are, with regard to the market we are, we don't foresee any
specified headwinds.";1;1
DAIMLER TRUCK HOLDING AG;2022-05-17;"Daimler Truck assumes that we will continue to face change supply chains for the key upstream products. The further
geopolitical as well as the COVID-19 pandemic development also harbor uncertainties. While the global market outlook
remains opaque, we are laser-focused on our strategy and self-held measures.";3;1
BUFAB AB;2023-02-09;"Strong results in the quarter due to acquisitions and somewhat higher gross margin and also a lower share of expenses in the group.
 Looking ahead then and the outlook, given the situation in the market, the geopolitical situation, the macroeconomic situation, there is
a lot of uncertainty ahead of us now for 2023, we have seen in the quarter there is a higher caution noted among customers in certain
segments. And we have, of course, continued to be preparing ourselves for more difficult times and lower demand in some segments.";3;1
HINDALCO INDUSTRIES LIMITED;2019-11-11;"Global economic
growth around the world slowed down despite accommodative monetary and expansionary fiscal policies
in the developed and emerging markets. Uncertainties around Brexit, persistent trade tension, geopolitical
risks, especially in the Middle East and subdued manufacturing activities were the key drivers of the
economic slowdown. Q3 CY '19 data revealed that the U.S. economy continued to decelerate for the third
consecutive quarter.";1;1
HINDALCO INDUSTRIES LIMITED;2019-11-11;"Marginal recovery is expected in 2020 with growth being projected
at around 3.4%. Prolonged trade wars, uncertainty around Brexit and geopolitical tensions are the key
risks to the growth.
 Moving to the domestic economy in India.";1;1
TELSTRA CORPORATION LIMITED;2022-08-10;"But when we get it wrong, we
own it and we fix it and we learn from the experience to do better next time.
 Finally, the geopolitical environment is more fractious than most of us have seen in our lifetimes. Like all businesses,
we are seeing disruptions from this with the largest impact being on the supply chains of key network and technology
components.";3;3
PRUDENTIAL PLC FH1 PRE RECORDED;2020-08-11;"Let's move to the financial highlights. These need to be seen in the context of extreme volatility in equities, foreign
exchange and bond markets, geopolitical uncertainty and the operational impact of COVID-19. Our performance highlights
the resilience of our business model, our scale and our ability to adapt and act with agility.";1;1
FRASERS CENTREPOINT TRUST;2023-10-25;"So again, we are seeing very strong demand, our occupancy is 99.7%, and at the same time a pretty muted
supply that is coming to the market.
 So if you look at what's happening around us today, there's a lot of negative noises, geopolitical issues, and this is something that,
like what I said, things that is not really our control. So you look at headwinds, there's uptick in oil prices because of all the wars
that's happening around the world.";1;1
LOGITECH INTERNATIONAL S.A.;2023-05-02;"And the outlook for the first half of fiscal year '24 remains unchanged.
 Most of the macroeconomic and geopolitical issues that impacted our fiscal year '23 results continue. Central banks are raising rates to
combat inflation, consumer confidence remains lower, and overall demand from enterprises remains tepid.";1;1
BROADCOM INC.;2023-06-01;"So there's a deep abiding loyalty to all our key suppliers. Having said that, we also have to be very realistic of the geopolitical
environment we have today, and so we are also very open to looking at in certain specific technologies to broaden our supply base.
 And we have taken steps to constantly look at it.";3;3
PYXIS TANKERS INC.;2022-08-08;", please turn to Slide 6 for further update on the product tanker market. In addition to my prior comments about the
market, a recent economic activity for most of the world has been amplified by impact of the war and other geopolitical
events. The advent of increasing and severe sanctions against Russian exports of petroleum products have been met with
low inventories in many locations, especially Europe.";3;3
COSTAIN GROUP PLC;2023-08-23;"Our pipeline of future opportunities remains strong across the
markets. We do remain mindful of the macroeconomic and geopolitical backdrop, recognizing the challenges it's created for inflation
and energy costs and its impact on the re-phasing and re-scoping of some major contracts, in particular, in transportation. With our
broad customer focus, further improvements to our operational performance, strong cash position and clear strategic priorities, we
remain confident of navigating these market headwinds and are well positioned for future growth.";3;1
PCTEL, INC.;2019-08-08;"Although our customer base is mainly
in the U.S., China remains attractive for manufacturing our antenna products. We are in the process of
transitioning a substantial portion of our manufacturing activities in China to contract manufacturers in
order to increase flexibility and reduce geopolitical exposure. This transition is expected to be substantially
complete in late 2020 and result in an estimated 35% reduction in the company's entire workforce.";3;3
PCTEL, INC.;2019-08-08;"First comment or question is around the small cell antennas and
what your business looks like there and maybe positioning?
David A. Neumann
CEO & Director
Yes. So small cell, I think everyone knows, our largest customers in China definitely have some challenges
with the geopolitical situation. We're still supporting that customer per the terms of the executive order.";3;3
FIDELIS INSURANCE HOLDINGS LIMITED;2023-08-23;"We still see a supply-demand imbalance. We still see the secular issues that we've talked
about for the last 3 or 4 years, climate change, deterioration in casualty, cost and social inflation and geopolitical context as drivers of
the hard market. So we don't think anything has changed.";1;1
CAMECO CORPORATION;2022-05-05;"I'll provide some details
on that a bit later.
 What we didn't know when we made our decision to proceed with the next phase of our supply discipline was the pace
of change that would occur in our industry because of geopolitical events that are further amplifying security of supply
concerns. It's still early days, but we are seeing what we believe is an unprecedented geopolitical realignment occurring

CAMECO CORPORATION FQ1 2022 EARNINGS CALL  MAY 05, 2022
Copyright © 2022 S&P Global Market Intelligence, a division of";3;3
CAMECO CORPORATION;2022-05-05;"What we didn't know when we made our decision to proceed with the next phase of our supply discipline was the pace
of change that would occur in our industry because of geopolitical events that are further amplifying security of supply
concerns. It's still early days, but we are seeing what we believe is an unprecedented geopolitical realignment occurring

CAMECO CORPORATION FQ1 2022 EARNINGS CALL  MAY 05, 2022
Copyright © 2022 S&P Global Market Intelligence, a division of S&P Global Inc.";3;3
CAMECO CORPORATION;2022-05-05;"For some time now, we've said that we believe the uranium market was as
vulnerable to a supply shock as it has ever been due to persistently low prices. Low prices that have led to planned supply
curtailments of existing productive capacity, development risk due to lack of investment in new productive capacity, the
end of reserve life for some mines, the deepening geopolitical and origin risk driven by the increasing concentration of
supply, and the trend towards regionalization to ensure the availability of critical minerals. And unlike in the past, we don't
have the same stock of secondary supplies to fill the gap.";3;3
CAMECO CORPORATION;2022-05-05;"The next phase of our supply discipline, which
involves not only McArthur River/Key Lake, but starting in 2024, Cigar Lake is balanced with our contract portfolio and
where we think the market transition is currently at.
 Even though we have seen considerable pricing pressure resulting from the geopolitical uncertainty, we will not change
our production plans. We will not front-run demand with supply.";3;3
CAMECO CORPORATION;2022-05-05;"We will continue to balance
this activity with our spot market purchases. As such, we expect to continue to have the financial capacity to execute on
our strategy and self-manage risk, including from the global macroeconomic and geopolitical uncertainty we're seeing
today. Having been in this business for a long time, we have been through every market transition in our industry.";3;1
CAMECO CORPORATION;2022-05-05;"Finally, after more than 10 years in a trough and through the deliberate and disciplined execution of our strategy; we're
seeing increased interest in contracting and not just in uranium, but across the fuel cycle. With geopolitics complicating
and potentially bottlenecking nuclear fuel supplies, we're seeing not just utilities, but some of the intermediaries and
service providers beginning to shift their attention to securing material for their uncovered requirements and to de-risk
some of their origin dependencies. The request for proposals, we are seeing are directed at those producers who have
proven and reliable productive capacity in the right jurisdictions and who have a track record of honoring commitments.";3;3
CAMECO CORPORATION;2022-05-05;"And with substantial Canadian productive
capacity, our supply meets both energy security and increasingly stringent ESG requirements that are table stakes today.
 And it can provide diversity from state-owned enterprises and help to de-risk utilities future supply from geopolitical risk
and trade policy exposure.
 So what does all this mean for Cameco?";2;2
CAMECO CORPORATION;2022-05-05;"Yes. We're talking about unprecedented geopolitical realignment. And what that's code for is just the Western markets
trying to exclude Russia.";3;3
CAMECO CORPORATION;2022-05-05;"We're sitting in a market where the demand outlook is strengthening and is durable
and the supply outlook is uncertain. And that supply outlook is leveraged by challenges with the concentration of supply
with this geopolitical realignment with the inability of primary production to respond quickly or the inability of greenfield to

CAMECO CORPORATION FQ1 2022 EARNINGS CALL  MAY 05, 2022
Copyright © 2022 S&P Global Market Intelligence, a division of S&P Global Inc.";3;1
CAMECO CORPORATION;2022-05-05;"I think we're all a bit surprised that the company didn't add any more to the 40 million pounds that were
announced, I guess, in mid-February. And it sounds like your comments are more related to the fact that utilities are
focusing on the enrichment side first with respect to the recent developments on the geopolitical risk front. But I'm just
wondering, given your strength in bargaining power, is it also an issue where the bid-ask spread has changed in the sense
of you are now in a much stronger position, so you can be commanding much higher pricing than you could have a few
months ago?";3;3
FORTIVE CORPORATION;2021-02-04;"And then I'm curious about your semiconductor business within Sensing. There's obviously a lot of [ cross-cuts ] still out
there, geopolitical, global semiconductor shortage. It looks like you're still seeing good growth there.";4;4
YAPI VE KREDI BANKASI A.S.;2023-02-02;"Therefore, we are observing a better risk appetite against
emerging markets. Meanwhile, geopolitical conflicts are continuing.
 Current TL interest rates in balance between funding and lending is putting pressure, whereas positive global macro may support some
normalization efforts needed for Turkish economy.";1;1
TWILIO INC.;2022-05-04;"That obviously benefits Twilio as a variety
of companies look to invest in their engagement strategies going forward.
 And we're not -- it's not like we don't see the macro environment, whether it's economic or geopolitical, but we just think
this business is extremely well positioned to capitalize on ongoing company's digital transformation efforts. And despite
impacts that we see that are inflationary, whether it be supply chain, which we talked about in the past, or labor inflation
more recently or interest rates, as you mentioned, we've built those impacts into our models.";2;2
TWILIO INC.;2022-05-04;"And so
as that continues to happen over a long period of time, we feel like there's a lot of tailwind here for Twilio.
 And I mean, of course, there are economic factors, geopolitics, supply chain, labor, et cetera, but all that stuff is largely
built into our models. And so our 30% plus growth confidence as well as being profitable next year has a lot of those
impacts baked in, and we obviously have a strong balance sheet as well.";2;1
KGHM POLSKA MIEDZ S.A.;2022-03-24;"We can also be support for our neighbors and those who need support if we are stable ourselves. However, we cannot
forget the conditions under which we function, geopolitical situation across the world keeps changing. So what is our
recipe for success in such turbulent times?";4;4
KGHM POLSKA MIEDZ S.A.;2022-03-24;"I do not see the name of the person asking. Whether the situation -- geopolitical situation related
to Russia's invasion in Ukraine and the system of sanctions influence operations of KGHM Group in 2 aspects? The

KGHM POLSKA MIEDZ S.A. FY 2021 EARNINGS CALL  MAR 24, 2022
Copyright © 2022 S&P Global Market Intelligence, a division of";3;3
KGHM POLSKA MIEDZ S.A.;2022-03-24;"All Rights reserved.
 spglobal.com/marketintelligence
14
question is about the impact of the current geopolitical situation on operations also outside the mainstream technologies
that is supporting services.
 Marcin Chludzinski
President, CEO & President of the Management Board
I will try to answer this question.";4;4
MITSUI & CO., LTD.;2017-11-06;"Based on our first half performance, we are upwardly revising our full year forecasts, raising our profit
forecast by JPY 80 billion to JPY 400 billion and forecast core operating cash flow by JPY 100 billion to JPY
600 billion.
 Although we need to pay close and ongoing attention to geopolitical risks, we believe that the global
economy is likely to continue showing a gradual overall recovery. While monitoring commodity markets,
currency movements and other key elements of our business environment, we will do our utmost to
achieve the forecast numbers.";1;1
TRAVELZOO;2022-03-03;"Michael A. Kupinski
NOBLE Capital Markets, Inc., Research Division
And Holger, can you tell me a little bit about Europe versus North America as you go into the first quarter? Because of the
geopolitical issues going on in Europe, are you seeing Europe not rebound as much as North America at this point? Or
can you kind of give us a flavor of the rebound that you're seeing by North America versus Europe?
Holger Bartel
Global Chief Executive Officer";1;3
TRAVELZOO;2022-03-03;"Given that prior to the pandemic, you guys acquired Jack’s Flight Club
and throughout the pandemic, you shifted the revenue mix towards vouchers to preserve cash flow. So given the fact
that the core business has been so disrupted by COVID-19 and now the potential for new geopolitical tension that may
impact travel in Europe. I'm just trying to get a sense as to how you're thinking about any additional levers there might be
available to you to continue to be proactive and less reliant on normalizing conditions from -- prior to the pandemic.";3;3
PPG INDUSTRIES, INC.;2019-10-17;"So heading into 2020, we do think there could be some inventory upside. It's too early to make a
call in the economy and the other geopolitical issues. But a couple of our key industries, we know, auto,
we feel a little bit better about auto next year, specifically in Asia, the biggest market.";1;1
PPG INDUSTRIES, INC.;2019-10-17;"They've moved to more of a
saving economy. I think they're feeling -- they're apprehensive about the geopolitical environment. And
our expectation, our hope is that gets somewhat resolved or some of that breaks free because they've
moved to more of a consumption model and they've saved for, I'd say, well over of 9 months to a year
now.";1;1
V.F. CORPORATION;2018-10-19;"Our focus in investment in support of 2021
strategy is driving accelerated growth and value creation across key pillars of our portfolio.
 Over the past few months, geopolitical and macroeconomic events have caused increased volatility in the
marketplace. I'd like to take a moment and address how a few of these events are shaping how we think
about our business and our consumers.";3;3
V.F. CORPORATION;2018-10-19;"Regarding the consumer, above-average GDP growth, low unemployment and multiyear highs in consumer
sentiment are driving strong results in the U.S. market. In China, consumer spending in footwear
and apparel remains solid, thus far unfazed by geopolitical rhetoric. And while the performance of our
European business has been slightly more volatile the past few months due in part to unusual weather
patterns across the continent, we have not seen a meaningful change in the trajectory of our business.";1;1
MAXAR TECHNOLOGIES INC.;2019-05-09;"The U.S. government is spending more
in the areas we serve, mainly space capabilities and earth intelligence. We expect that trend to continue
given the increasingly complex geopolitical environment and pace of innovation. Our international
government customers now, as around the world, are experiencing a similar phenomenon.";2;2
ARITZIA INC.;2023-01-11;"Please note that remarks on this
call may include our expectations, future plans and intentions that may constitute forward-looking information. Such forward-looking
information is based on estimates and assumptions made by management regarding, among other things, general economic and
geopolitical conditions, the competitive environment and further COVID-19 resurgences.
 Actual results may differ materially from the conclusions, forecasts or projections expressed by the forward-looking information.";1;1
ENTERGY CORPORATION;2022-11-02;"As we laid out at Analyst Day, our industrial customers
have many inherent advantages that make them low-cost producers on the global stage. This is enhanced by recent supply chain and
geopolitical conditions. Commodity spreads important to our customers remain positive and continue to support the outlooks we laid
out at Analyst Day.";2;2
ENTERGY CORPORATION;2022-11-02;"And as we discussed at Analyst Day, this next wave of our industrial growth is being accelerated due
to onshoring trends. These trends are caused by broken supply chain globally, manufacturers needing reduced geopolitical investment
risk as well as global customers who need energy security.
 The results for EWC are summarized on Slide 7.";3;3
MURPHY USA INC.;2019-01-31;"With February and March, the next two months of the quarter due, I don't
have a crystal ball on what Q2, Q3, Q4 do. This is why we're kind of out the fuel margin guidance business
because there's just so many factors between the geopolitical, supply-demand of crude, IMO 2020 and
the demand for low sulfur crudes, et cetera. We know it's going to remain volatile.";1;1
NORDEA BANK AB;2016-01-27;"We have operated in an environment with very
low -- actually, no interest rates -- low interest rates, very low growth environment. We have had the
geopolitical turmoil, and we've also had a fair degree of market turmoil. So challenging environment.";1;1
PERKINELMER, INC.;2022-05-03;"But the
outlook looks strong, and I think we are poised to at least deliver the 6% to 8%, but I thought it was a little too soon this
early in the year to raise the overall organic growth guidance.
 As you know, there's a lot of geopolitical and macroeconomic pressures out there. You mentioned China as an example.";1;1
BANCO DE CHILE;2023-02-03;"All these forecasts are subject to risk. In addition to global uncertainties where Chinese dynamism is a key driver for Chile and
geopolitical conflicts in Eastern Europe could produce some noises in international prices, we have to pay attention to the evolution of
some local factors as well, especially those related to political and institutional aspects. Some of them include the evolution of some
reforms that are currently under discussion in Chile, such as the tax and pension bills as well as the ongoing constitutional process.";1;1
CORPORACIÓN INMOBILIARIA VESTA, S.A.B. DE C.V.;2021-07-22;"The current Secretary of Economy, Tatiana Clouthier, is currently
actually in Washington, talking about this particular situation in order to get to better agreements. And we see this as
a favored sector now not only because of Biden, but also because of the disruption in the pandemic and geopolitical
challenges.
 Zoe Tan
Right.";4;4
KALEYRA, INC.;2022-11-07;"Maur's effort, especially towards developing relationships with Tier 1 providers
and with large enterprise customers, has been exceptionally helpful in our mission to expand Kaleyra's Wichan partner growth. Across
our business, we were able to achieve this result despite persistent headwinds faced during the quarter; Global economic uncertainties
driven by overlapping geopolitical and macroeconomic factors, including a slowing global economy, the recent market volatility, and
uncommonly high inflation.
 However, 2 main factors stand out to us.";1;1
NANYA TECHNOLOGY CORPORATION;2023-07-10;"All suppliers have adjusted capacity
and CapEx and improvement on supply-demand balance is expected in fourth quarter this year, which is subject to the strength in
DDR4 destocking and DDR5 transition as well as overall demand recovery.
 The lingering impact by geopolitical conflicts, including European war, including trade restrictions between U.S. and China may
continue. From the supply side, the DRAM supplier continue to adjust capacity and product mix, overall supply decrease yearly
is expected in 2023.";3;3
NANYA TECHNOLOGY CORPORATION;2023-07-10;"Still the market is quite dynamic. And not to
mention that lingering impact may continue by the geopolitical issues around the world.
 Operator
Next one, ask questions is Simon Woo from Bank of America.";1;1
NANYA TECHNOLOGY CORPORATION;2023-07-10;"I
did not specifically mention in that because there are still quite a bit of market uncertainty out there we have to continue to observe,
okay? That's including inventory digestion, including DDR5 transition and also include global economic recovery and also include the
negative impact by geopolitical issues, are they going to be lingering? And how much worse is it lingering?";1;1
PRECISE BIOMETRICS AB;2022-08-12;"I also have one question. How do you see the geopolitical tensions that are in Taiwan? And is there a risk that it will
be able to affect your business?";4;4
SCOR SE;2022-05-06;"Q1 2022 was marked by a combination of exceptional
events. The sustained level of natural catastrophes for the past 5 years has compounded with the ongoing pandemic first,
and more recently, with geopolitical and macroeconomic tensions on a scale not seen for many years. This translates into
another difficult quarter and impacts the way we run our business and our transformation.";3;3
AROUNDTOWN SA;2022-08-25;"Going forward, we remain cautious and assume that it will be challenging to realize rent increases. Given the macro and
geopolitical environment, we expect to face over the next periods.
 As the impact of the sharp increase in inflation has become a main topic in all our daily decisions, Slide 9 provides you the
operational growth potential we have as a defense against operational cost inflation.";1;1
AROUNDTOWN SA;2022-08-25;"So there are no changes to our full year guidance, and we
continue to be well on track to achieving them.
 Finally, on Slide 27, we want to highlight 3 key strategic efforts that we aim for as we navigate through the current
macro and geopolitical challenges. Firstly, we continue to extract the embedded value in our portfolio through our highly
experienced operational teams and management.";1;1
CARYSIL LIMITED;2023-11-08;"Demand
for luxury and premium goods have been propelled by shifting consumer preferences, accelerating urbanization and emerging new
lifestyle products. Despite the unstable geopolitical circumstances, we continue to witness an improved inflow of new orders and
potential prospects that we expect to tap in the near future.
 Similarly, the cost of raw materials have been stable, and we anticipate this trend should continue.";1;1
CARYSIL LIMITED;2023-11-08;"So it's nothing that what you and we can do. But there are -- this geopolitical situation is,
the cloud is on our head at this point of time. So we don't know.";4;4
CARYSIL LIMITED;2023-11-08;"There's a lot of uncertainty around
the world. So those are the geopolitical risks.
 Second is, I think, on the other side, the inflation is very high.";1;1
CARYSIL LIMITED;2023-11-08;"So not a single market is right now on a decline. It may happen because of geopolitical situation, like Israel and Jordan and
some of the Gulf countries. But across -- I think there's a demand and the demand is only increasing.";1;1
S H KELKAR AND COMPANY LIMITED;2023-02-03;"It's sort
of a backward integration venture. Apart from the Chinese geranium, there is products like vetiver oil, which is coming from Haiti,
and that has very uncertain supply due to political as well as geopolitical as well as climatic and earthquake situation. So these kind of
products where globally the supply chain for our industry is affected, we are cultivating in India and building our own strong supply
chain.";3;3
I-MAB;2023-03-31;"I want to take this opportunity to discuss our key business
updates and major progress in core asset development for the year ended December 31, 2022. Since the start of 2022, the company
faced multiple challenges, including but not limited to geopolitical issues such as ADR delisting risk, macroeconomic factors,
including interest rate hikes, and 2019 pandemic.
 In response to these challenges, the company made several strategic efforts to reposition the overall business and prioritize its pipeline.";3;1
ENBRIDGE INC.;2022-11-04;"And just as a follow-up, maybe continuing on the risk discussion. When you're allocating capital, how do you account for
geographic risk, specifically geopolitical risk? I think the perception is it's going up in certain parts of the world and supply chain as
well.";3;3
ACERINOX, S.A.;2022-07-28;"Conclusions are very simple. We've got exceptional second quarter results, exceptional
first part of the year with results, and of course, that we are proud of the results as we manage the complex geopolitical
scenario.
 What can we expect for the second half of the year.";1;1
ACERINOX, S.A.;2022-07-28;"And this is what I'd like to explain to you. With all these new tensions, geopolitical
tensions before COVID and before these things, we have started to see this kind of a polarization in the geopolitical
situation. Now remember, Section 232, safeguard measures in Europe and these types of things and governments in the
United States and in Europe started fighting against unfair trade practices.";3;3
ACERINOX, S.A.;2022-07-28;"What does it mean? With the disruptions in the supply chain, the geopolitical problems, the cost of transport, the trade
defense measures and all these things, most of the purchasing managers in Europe and the United States will try to
diversify the suppliers and also to bring or to give a higher weight to the local or regional suppliers. That means that will
be -- that will increase local purchases in Europe and in the United States.";3;3
ACERINOX, S.A.;2022-07-28;"Now we are suffering the problems of supplies
from Russia from Ukraine, but people can think in United States or even in Europe that we can have the same problem
in China. And also it is the new geopolitical situation. I think that it teaches us that it's just common sense that we need to
have closer suppliers, and that will happen in Europe.";3;3
LANXESS AKTIENGESELLSCHAFT;2021-05-12;"But of course, uncertainties are out there. We are living in volatile times,
geopolitical uncertainties are also visible and therefore, we should all be humble, but nevertheless, optimistic.
 This is how we look at LANXESS.";1;1
FAMOUS BRANDS LIMITED;2023-05-22;"In terms of the operating context, it's really quite difficult to talk through everything, but there's 3 particular points that I'd like to just
talk through in terms of our particular context. And really summarizing where we are in terms of the geopolitical and socioeconomic
side of things, we've obviously had negative impact from all of those and high inflation affects the restaurant industry and consumers.
 There's no denying that.";1;1
BAIN CAPITAL SPECIALTY FINANCE, INC.;2022-02-24;"This represents a total
position size of up to 11% based on the size of the investment portfolio at year-end. It is also important to note that the
presence of our team on the ground in these geographies, coupled with our focus on private equity-sponsored companies
and senior positioning in the capital structure allows us to invest prudently even in periods of geopolitical turmoil such as
today.
 Our new origination activity, combined with the growth of our ISLP investment, contributed to an improvement in our
portfolio asset yields, both quarter-over-quarter and year-over-year.";1;1
ELLIPTIC LABORATORIES ASA;2023-05-25;"And one of the reasons that we initially went public
was that when we saw we should capture this large market, that you needed to have a strong balance sheet to go after this market
because you don't know exactly how long the sales cycle will be. And then, of course, we had war and other geopolitical concerns that
had been throwing...
Lars Holmoy
CFO & Investor Relations
COVID.
 Laila B. Danielsen
CEO & President
COVID throwing at us.";4;3
KARORA RESOURCES INC.;2022-03-14;"Oliver Turner
Executive Vice President of Corporate Development
Thanks, Graeme, and hello, everyone. Over the past several months, we've seen a material shift in current market
conditions that have led to a strong performance across the gold sector, even if for somewhat uncomfortable geopolitical
reasons. In addition to our usual investor road show, marketing and retail investor summits, we've seen an increased
generalist investor interest in the gold sector.";2;1
H & M HENNES & MAURITZ AB;2024-01-31;"As you can see in today's report, we are gradually taking
steps in the right direction and towards our long-term goals. The last few years have been very intense with the pandemic, several
geopolitical and macroeconomic challenges. It has at times been very demanding for me personally, and I now feel that it is time
to leave the CEO role to slow down a little bit and reflect.";1;1
H & M HENNES & MAURITZ AB;2024-01-31;"The long-term target, I can just say a few words and then you get some
reflections from Daniel. As you know, since the past few years have been locked around navigating through a pandemic and then
many geopolitical and macroeconomic challenges, we've been focusing mostly on profitability, having a good, robust financial
position and a good cash flow, so we can keep on investing in our business and stay flexible and of course, always focused on our
customers.
 We see that we now have a more robust foundation to stand on for future profitable and sustainable growth.";1;1
ORDINA N.V.;2022-02-17;"And as this phenomenon will increase, we are facing the risk our tariff increase will be unable to
follow salary increases. Many of our clients are impacted by supply chain shortages and may be impacted by geopolitical
uncertainties or energy market disturbances. On the other hand, we see an important digitization agenda at almost all our
clients in all sectors.";1;1
ORDINA N.V.;2022-02-17;"Think of wage pressures. Think of geopolitical uncertainties. And on
the other hand and as what I explained as well, we will increase our investment in market solutions because that will drive
the shift of -- help drive the shift to 75% of our revenue.";3;3
MICRON TECHNOLOGY, INC.;2020-06-29;"And from what we can see, customer inventories with respect
to cloud are in a healthy place. And of course, there are other parts of the market such as mobile phone, where there are
other considerations such as geopolitical considerations as well as related to COVID as well, where customers may have
built up some additional inventory.
 And in mobile, in particular, you saw in China that how in April, post-COVID within China, the demand went up, surged
up for smartphones.";3;3
MICRON TECHNOLOGY, INC.;2020-06-29;"So overall, it's a mixed picture with respect to the inventory on the customer front, cloud inventories are
in decent shape. Mobile, I would say, is somewhat in anticipation of demand as well as managing to the supply chain
consolidations due to COVID and some geopolitical considerations as well.
 So overall, I would say, when we look at fiscal first quarter, the environment is similar to what we had experienced in FQ3,
FQ4.";3;3
HOME24 SE;2022-05-11;"We have obviously reviewed scenarios and looked at
the current market trends also over the last 5 weeks.
 We believe we've built in significant headroom in a way that external factors like, at the moment, inflation, geopolitical
tension, supply chain and consumer climate, should not prevent us reaching these, especially where, as of April, the
Butlers financials will add to profitability.
 Nevertheless, strict working capital management will definitely be a theme throughout 2022 and remains a high focus for
us.";1;1
ENDEAVOUR MINING CORPORATION;2018-11-07;"For the Kalana project, we have been quite
active especially the reading of 48,000 meters in the first semester. As you may know, it's a high-grade,
quite complex deposit, and we have been achieving a significant amount of reading to prove and to
confirm and to refine the geopolitical model, which is quite okay right now. Unfortunately, we have been
fast-pacing some quite important delay in the lab analysis due to the rich ore analysis we are conducting
on all the samples due to the high-grade characteristics of the ore.";4;4
CLARIANT AG;2022-05-19;"We expect the high inflationary environment
with regard to raw material, energy and logistics cost as well as supply chain challenges to persist into the second half of
2022.
 The current high level of uncertainty as a result of the [ geopolitical conflicts ], suspension of business in Russia and the
resurgence of COVID-19 in China is expected to continue to impact global economic growth and consumer demand in the
second half of the year. We are progressing well with our growth investments.";1;1
CLARIANT AG;2022-05-19;"I would say this is
even a sort of a broader sort of trends right now, which is very positive for Clariant, the increased focus on sustainability.
 But I would also say, considering the recent geopolitical developments, the increased focus on energy transition. That is
actually a very favorable trend for the Clariant portfolio.";2;2
CLARIANT AG;2022-05-19;"As far as licensees, we see, yes, an increased interest for renewables. As I mentioned before, the whole energy transition
is clearly becoming a larger priority not just to fight climate change, but also for geopolitical reasons to become less
dependent on fossil fuel, particularly in Europe, the gas from Russia. So we are seeing an increased interest and we do
actually anticipate in the second half to make some further comments on new licensees.";3;2
ASTER DM HEALTHCARE LIMITED;2020-02-12;"There have been even situations where the oil price has gone to $30. And there has
been a lot of things where people who are predicting issues, local issues, geopolitical issues. I'm not
saying that it is a place where nothing will happen.";4;4
PILBARA MINERALS LIMITED;2022-01-31;"We've heard many
analysts over the years that the lithium markets will be oversupplied. There's plenty of lithium in the world, but there's not
plenty of lithium in the world that fits the right combination of location, quality of supply, accessibility to infrastructure, in
the right jurisdictions that don't otherwise suffer from geopolitical challenges. Yes, I mean, it's a complex world of industrial
mineral supply chain that doesn't want to be complex but naturally is.";3;3
DEUTSCHE BANK AKTIENGESELLSCHAFT;2022-01-27;"As we guided earlier, credit loss provision will be around 20 basis points in 2022. Our credit portfolio quality remains
strong, and we are well positioned to manage emerging risks, including geopolitical uncertainties, supply chain disruptions
and expected policy tightening. As noted, we expect to maintain a CET1 ratio of around 13% and in any case, above
12.5%, consistent with our target.";3;1
SACYR, S.A.;2022-05-04;"Although for us, it continues to be very relevant and important, the fact that we have recurrent profitable
growth. All the more so in a situation of geopolitical and macroeconomic uncertainty, such as the one that currently exists.
 The results for the first quarter of this year continue to show the robustness of our business model.";1;1
AIRBOSS OF AMERICA CORP.;2018-11-08;"Lisa R. Swartzman
President
No, to be honest, I put it out there always as a bit of a caveat. Because the geopolitical situation and
government budgets on our multiyear contracts, we'd still require that a budget to be in place. We have
no real expectation, or we don't anticipate anything being different than anything that we've either
announced recently or that our maximum awards are.";4;3
AMYRIS, INC.;2022-03-01;"However, the path forward for
Amyris has never been clearer. Despite a number of factors in the macro environment, including inflation and geopolitical
instability, we expect to have another exceptional year as it relates to growth. As more of our brands achieve critical mass,
we expect consumer revenue to increase by at least 150% from 2021 base of $92 million.";1;1
SUNNY OPTICAL TECHNOLOGY;2023-08-23;"Our new production base, we started in 2022 as the first company working on vehicle lens
sets due to the tariff problems from the U.S. Well, due to the global geopolitical situation. When we set up overseas institutions, we
are faced with greater challenges.";3;3
MICRON TECHNOLOGY, INC.;2021-09-28;"And
this tends to be a seasonally strong quarter for new smartphone shipments as well. And while some customers made
-- because of geopolitical considerations or through the lessons learned during the pandemic or their own supply
chain considerations or supply chain shortages, maybe having a strategy of carrying more inventory than some other
customers, overall, the smartphone market continues to be driven by 5G transformation -- transition. Smartphones over
the course of calendar year '22 with 5G increasing by 50% from the 2021 levels.";3;3
MICRON TECHNOLOGY, INC.;2021-09-28;"So inventory in our markets today is in much better shape than it was back in the 2018 time frame. Again, some
customers may have higher levels due to their strategic considerations, and they may choose to continue to do so in the
longer term as well given the challenges faced by the supply chains during the pandemic as well as given geopolitical
considerations. So this is what I would like to share with you on inventory.";3;3
MCEWEN MINING INC.;2021-11-04;"And the price paid per copper equivalent pound ranged from $0.02 to $0.034 per copper equivalent pound.
 Due to the current remote nature of losses, the liquidity of our private placement, some geopolitical concerns. And being
at its preliminary economic assessment stage, Los Azules for the purpose of our financing is valued at $175 million, which
is equal to $0.065 per copper equivalent pound.";4;4
CIPLA LIMITED;2021-10-26;"We are pleased to see the robust vaccination rates in the country and are happy to report that 89% of
our colleagues across our operating geographies have taken at least 1 dose and 59% have been fully vaccinated.
 Coming to the strategic updates and operational performance, I'm pleased to see continued delivery reflected in the
robust performance for the quarter driven by our branded markets of India and South Africa supported by the unlocking
of our respiratory franchise in the U.S. and traction in emerging markets despite geopolitical headwinds. Our EBITDA
margins for the quarter came in at 22.2% and continue to reflect our commitment to maintain the trajectory in FY '22
despite significant moderation in the contribution of COVID versus the previous year.";1;1
JOHNSON MATTHEY PLC;2018-05-31;"And we can source metal from a
variety of sources, and refined pgm is a part of our supply for John's business, for example. And of course,
that gives some real assurance about being able to supply irrespective of what might happen in whatever
economic environment or world geopolitical environment that's happening. And so that's very -- and that's
why we're the world's largest refinery of secondary pgms.";3;3
23ANDME HOLDING CO.;2023-11-08;"Now turning to our guidance. As a reminder, the company's full year 2024 guidance is based on a conservative approach, recognizing
current uncertainties in consumer sentiment, the macroeconomic environment and geopolitical conditions. Our focus within the
existing lines of the PGS and telehealth consumer businesses remains unchanged.";1;1
QUICKLOGIC CORPORATION;2022-05-17;"The revenue cadence will still be
weighted more to the second half of 2022. At this time, I believe that the pathway for profitability this year is clear, barring
any severe changes in the macroeconomic or geopolitical environment. As good as the improvement has been over the
last year, I believe the next 12 months will be even better.";1;1
IHEARTMEDIA, INC.;2023-11-09;"Throughout the year, we've seen gradual improvements in the
advertising marketplace, which is reflected in the quarter-by-quarter sequential improvements in our advertising revenues. And despite
the recent global geopolitical events, we expect that to continue through Q4.
 Now let me take you through some of the key financial results of the quarter.";1;1
IHEARTMEDIA, INC.;2023-11-09;"As we talked about on previous calls, we expected Q4 to be the strongest quarter of the year for the company. Although it is still on
track for that, it will be weaker than we originally anticipated due to some dampening of advertising demand, which coincided with
the uncertainty caused by the recent geopolitical events. Having said that, in some years, we do see significant last-minute advertising
spend come in late November and December.";1;1
IHEARTMEDIA, INC.;2023-11-09;"Turning now to our outlook for Q4. As Bob mentioned before, as some other companies have discussed on their earnings calls, we are
experiencing some additional uncertainty due to the recent geopolitical events, and that is captured in our Q4 revenue outlook.
 So with that in mind, we expect our Q4 2023 revenues to be down high single digits.";1;1
IHEARTMEDIA, INC.;2023-11-09;"Are you starting to see some green shoots or
inflections? It sounds like some of the geopolitical stuff maybe it could be a little bit of a near-term headwind. So just help us think
about what's driving that confidence in the improvement in 2024.";1;1
CADENCE DESIGN SYSTEMS, INC.;2019-07-22;"John will provide more details shortly.
 While there's an ongoing global economic and geopolitical uncertainty, we remain confident about the
multiple long-term trends that continue to drive strong design activity. Driven by trends such as artificial
intelligence, or AI, 5G, autonomous driving and IoT, design activity is being fueled by workload-specific
computing, system companies building custom silicone, new silicone startups and digital transformation of
industries such as automotive, aerospace, medical and other industrial applications.";1;1
CADENCE DESIGN SYSTEMS, INC.;2019-07-22;"Spectre X was endorsed by MediaTek, Mellanox, Renesas and Silicon Works.
 Now let me make a few comments on the geopolitical situation. We have, and we will continue, to comply
with the United States Department of Commerce export control regulations.";3;4
CADENCE DESIGN SYSTEMS, INC.;2019-07-22;"Operator
Your next question comes from Rich Valera from Needham & Company.
 Richard Frank Valera
Needham & Company, LLC, Research Division
Lip-Bu, you referenced geopolitical tension in your prepared remarks, which I think most would agree has
increased probably over the last quarter or so. And notwithstanding the fact that your business remains
obviously very healthy, have you seen any change in any customer buying patterns or demand due to this
increased tension, or any perhaps unexpected customer attrition?
Lip-Bu Tan
CEO & Director
Yes, so far we don't see that.";1;1
BB&T CORPORATION;2019-04-18;"spglobal.com/marketintelligence
12
And Betsy, remember that it's a multifaceted set of variables that we have to consider and the Board has
to consider. The progress with regard to the merger, the combinations in terms of systems, et cetera, but
we also have to pay attention to what's going on in the economy and in global geopolitical issues and all of
that. And so for all of those reasons, we are being admittedly conservative when we say 10%.";3;3
GARMIN LTD.;2018-10-31;"So maybe if you could just add a little color on why you're seeing the better operating
margin despite it looks like mix is going to be fairly similar. And then as a follow-on question, Cliff, I just
would be curious on your thoughts on the geopolitical situation in terms of its impact on your business.
 Are you seeing anything changing in terms of consumer behavior in Asia?";3;3
GARMIN LTD.;2018-10-31;"With the
product mix and the overall trends we're seeing, we felt confident to upgrade our operating income
estimate as well. In terms of geopolitical issues, right now we don't really see anything that's moving the
needle in terms of concerns. The Asia demand still appears to be very strong.";1;1
BANCOLOMBIA S.A.;2022-11-16;"So we clearly expect to be above the cost of equity in the years to come. It's important to highlight the cost of equity at this moment is
pretty high due to the macro environment and the geopolitical situation in general and higher interest rates. When that normalized, we
will also probably normalize the net interest margin, and that will allow us to deliver an ROE above the cost of risk and risk.";1;1
FERREXPO PLC;2019-08-02;"And you see really we can apply $500
million or $750 million to accelerate the process and it's very much attractive, but it's a consideration for
the shareholders and the Board. So either we are ready to take this risk and effectively, this is geopolitical
risk. We do not see any kind of production risk.";3;3
CONTINENTAL AKTIENGESELLSCHAFT;2022-08-09;"Our expectations are based on currently
foreseeable effects. In the event, that the geopolitical situation, in particular in Eastern Europe remains tense or even
worsens. It could result in further lasting consequences for production, supply chain and demand.";3;3
ENSIGN ENERGY SERVICES INC.;2019-03-08;"Edge Controls, as you recall, is our wellside technology platform, which attracts a $900 a
day surcharge when installed.
 Most importantly, the transition further derisks Ensign geopolitically. We now operate 50 rigs
internationally in 9 countries outside of the U.S. and Canada.";3;4
ENSIGN ENERGY SERVICES INC.;2019-03-08;"Canada, as you
know, has had one of the toughest winters in a long time. I'm sure it's not lost on anyone the reasons why
not only the fourth quarter, but the obvious geopolitical challenge with pipeline issues and the -- and now
the delay in the Line 3 Enbridge. With the Trinidad acquisition, Ensign shores up its fleet in the deeper
capacity spectrum; currently running 37 rigs today, with one of the largest pad type fleets.";3;3
INFICON HOLDING AG;2022-04-22;"Mr. Winkler had already gone into the details and the assessment of our end
markets. Due to the current geopolitical situation, the ability to forecast is generally somewhat limited. Nevertheless,
based on our order book, order intake and the overall business situation in our end markets, we are quite positive for the
start of the year.";1;1
BENTLEY SYSTEMS, INCORPORATED;2022-05-10;"spglobal.com/marketintelligence
5
After so long during which EPCs bogged down with industrial CapEx stagnation have significantly stifled overall E365
ARR growth, during '22 Q1, they finally resumed some new business, although still at a slower rate than the mainstream
of E365 accounts. Such continued EPC invigoration throughout 2022 would contribute an upward inflection from
2021's growth serving to offset the detrimental aspects of this year's geopolitical upheavals, which are actually creating
opportunities for EPCs.
 Turning from enterprise to SMB, which, as we showed last quarter, was more significant than ever in 2021's new
business, Virtuosity continued its rapid growth seasonally adjusted.";2;2
BENTLEY SYSTEMS, INCORPORATED;2022-05-10;"And what's your kind of outlook there? And to what extent and what kind of time line do you expect your new
JV to sort of counter those kind of geopolitical headwinds?
 Gregory S. Bentley
CEO, President & Chairman of the Board";1;1
DONALDSON COMPANY, INC.;2019-12-03;"All Rights reserved.
 spglobal.com/marketintelligence
5
For ag and mining, the recoveries are muted as manufacturers navigate geopolitical and trade-related
uncertainties. As our first-fit markets predictably cycle, we remain focused on winning new programs with
innovative technology.";1;1
WACKER CHEMIE AG;2023-03-14;"I don't know. I mean geopolitical situation at the moment doesn't seem to be easier than 2 years ago. I think that's a
fair statement to make.";4;4
TECK RESOURCES LIMITED;2018-07-26;"We could also reduce debt further in a market that's quite volatile. And for a bit of geopolitical
uncertainty out there, that might be appropriate. And then, of course, we do want to steward our capital
for these potential growth opportunities, although by doing the partnering process of QB2, we would
require less than the market would have thought previously, and our financial resources will significantly
exceed what would be required for QB2.";1;1
TECK RESOURCES LIMITED;2018-07-26;"And when we went into it
some 10 years ago, we think of it as a large open-pit mine, shovel truck operation, we have a lot of skill
and operating experience, expertise in that. And it's also a great geopolitical jurisdiction. Even under an
NDP government, it's a lot better than many other jurisdictions that if you were sitting in my seat, you

TECK RESOURCES LIMITED FQ2 2018 EARNINGS CALL  JUL 26, 2018
Copyright © 2018";4;4
TECK RESOURCES LIMITED;2018-07-26;"What I would say is that the board has had a thorough
discussion of the balance of risks and made a decision to be as prudent as possible on this project. And
look, if you've been in the business a long time, you know how hard it is to get a hold of a nice, clean,
doable project in a decent geopolitical jurisdiction that has a really long life -- mine life to payback ratios
of in excess of 10 or something. So to get ahold of that is really, really tough.";4;4
CIRCOR INTERNATIONAL, INC.;2017-02-16;"Sequentially higher volumes in most of our businesses as well as the positive impact of our
simplification and operational excellence actions resulted in revenue of $158 million, adjusted earnings per
share of $0.48 and improved working capital and cash flow performance.
 Although volatile energy markets and geopolitical uncertainty affected much of our industry in 2016, we
focused, as always, on the factors within our control. During the year, we continued to build a foundation
for strong organic growth, further optimized our organization, reduced structural costs and improved our
operational execution, steps that we believe will make us more competitive and profitable over the long
term.";1;1
CIRCOR INTERNATIONAL, INC.;2017-02-16;"I mean, it seems like a lot of things
are pretty fluid with the current administration, and a couple of pro-business legislation could just change
this around very quickly.
 Scott A. Buckhout
Chief Executive Officer, President and Director
Well, certainly, I guess maybe we should make it explicit here, any kind of geopolitical event that takes
supply out of the market could change things very quickly for this market. There's some of our customers
out there who are saying that's what it's going to take and that they're expecting that's ultimately going
to be the trigger.";3;3
HPL ELECTRIC & POWER LIMITED;2022-05-27;"The economy is recovering quite well and moving towards the pre-COVID
normal level, and this is reflecting well on our business progress. I'm pleased to inform you that despite the COVID-
led disruptions, global supply chain challenges, raw material inflation and other macro geopolitical factors causing both
energy and put security crisis globally during the year, HPL was still able to grow its revenue by 16% year-on-year to
reach INR 1,014 crores for the financial year '22.
 The company experienced good traction in all its business segments, causing our EBITDA to grow by 5% year-on-year
for financial year '22 to reach INR 125 crores.";1;1
UROGEN PHARMA LTD.;2022-11-10;"With the simplified administration and addressable patient population, roughly tenfold that of low-grade UTUC, we expect UGN-102
to have strong and rapid adoption and is positioned at this primary driver of value generation for UroGen's business over the long
term.
 While geopolitical and macroeconomic forces continue to call for financial prudence, we remain confident in our ability to end the
year with around $100 million in cash. We continue to focus on capital preservation and investment in our core assets, specifically
JELMYTO sales growth and UGN-102 development, while carefully scrutinizing capital investments elsewhere.";1;1
GENUINE PARTS COMPANY;2022-07-27;"Our emerging technology council comprised of global strategic partners also continues to help inform and advance our
strategies.
 In Europe, our automotive team delivered a terrific quarter as well despite the dynamic geopolitical environment. Sales in
Europe increased 19% in local currency in the second quarter.";1;1
GENUINE PARTS COMPANY;2022-07-27;"So we're trying to balance the strength of the first half and our momentum exiting Q2 while being eyes wide open and
prudent about what we see out there. And again, we've already talked about a few of these things with inflation, lingering
COVID conditions, the geopolitical landscape, ongoing supply chain constraints.
 So look on the back half guide for sales, our original plan for the year assumes some normalization of growth rates in the
second half.";1;1
CONCORDIA MARITIME AB;2022-08-17;"So the X factors, or the black swans that we need to keep an eye on. Obviously, geopolitical
instabilities with Ukraine, with Taiwan, and how that affects Western energy policy, sanctions and trade flows going
forward. We have the global economic situation and how much this will actually affect demand side.";3;3
DELL EMC;2016-01-27;"In 2015, we experienced a sharp decline in
revenues in a significant number of the emerging-market countries we serve as these economies came
under pressure. We experienced business declines in Russia and parts of the Middle East on the back of
geopolitical unrest there. We experienced declines in our business in China as the country faced issues
with their equity and housing markets leading to a lowering of IT imports.";1;3
POPULAR, INC.;2023-01-25;"We also believe that the improvement in the risk profile of the corporation's loan portfolio positions Popular to operate successfully
under difficult economic conditions. We remain vigilant and continue to closely monitor changes in [ our ] performance and the
macroeconomic environment, given potential economic headwinds rising interest rates and geopolitical uncertainties.
 Turning to Slide #11.";1;1
POPULAR, INC.;2023-01-25;"Looking ahead, I am optimistic about the economic outlook in Puerto Rico, our primary market. While we are aware of the
macroeconomic headwinds related to inflation and geopolitical risk, we are confident that given the amount of similar support from
federal funds, Puerto Rico will continue its growth path, albeit perhaps at a slower pace. 2023 marked Popular's 130th anniversary.";1;1
PDS LIMITED;2023-05-12;"In the first 2 quarters, we have achieved high growth while during
the second half, we've witnessed some slowdown. The impact of the macroeconomic and geopolitical factors had a bearing on our
operations. We have witnessed some customer pushbacks due to lower demand and high level of inventory with brands and retailers.";1;1
PDS LIMITED;2023-05-12;"So that is one advantage we have in being in the export business.
 Turkey as a country is a little bit under pressure right now because of geopolitical situation and the earthquake that happened. But the
thing is many small, medium-sized businesses disappear.";3;3
UNION BANK OF INDIA;2022-05-13;"The economy is on recovery path with activities surpassing pre-pandemic level across sectors. While GDP growth
estimates have come off considering geopolitical developments, India is seen as the fastest-growing major economy in
the world. Inflation concerns meanwhile have meant rising interest rates both globally as well as at home.";1;1
GENTEX CORPORATION;2020-07-24;"The good news over the last couple of
years, there's been a lot of supply concerns. Whether that's part shortages or geopolitical issues, you name it. So I mean,
we've become pretty well versed in making sure we've derisked the supply base as best we can anyway.";3;3
BHARAT FORGE LIMITED;2022-02-10;"Amit Babasaheb Kalyani
Deputy MD & Executive Director
Actually, the real increase will happen in the Jan to March quarter because energy prices went up in December, we
have seen this quarter. Another thing that I'd like to mention -- so another thing is that, please bear in mind that a lot of
geopolitical and other issues are creating energy cost increases in Europe right now.
 Jinesh K. Gandhi
Motilal Oswal Securities Limited, Research Division
Right, right.";1;1
BHARAT FORGE LIMITED;2022-02-10;"spglobal.com/marketintelligence
14
Look, I think the one thing which worries me is cost and inflation, because in a backdrop where demand isn't or let's
say production isn't at the highest level, costs are escalating for all kinds of, let's say, extraneous reasons. Then I'm a
little worried about Europe because Europe is very sensitive and dependent on a lot of geopolitical issues, whether they
affect raw material supplies, energy supply, supply chain issues, et cetera. And I also expect that a lot of suppliers will go
bankrupt in Europe in the next 6 to 12 months.";3;3
BHARAT FORGE LIMITED;2022-02-10;"So oil and gas usage for heating has gone up. And at the same time, we have geopolitical issues,
which are causing cost pressures. So honestly, I can't give you a forward-looking view like that.";3;3
LENNOX INTERNATIONAL INC.;2022-07-28;"Europe Commercial HVAC was up mid-single digits at constant currency. The geopolitical environment is
weighing on the market regionally, and supply chain disruptions continue to impact our European operations. Overall, for
the Refrigeration segment, profit rose 73% to $23 million, and segment margin expanded 470 basis points to 13.8%.";1;1
ASSURED GUARANTY LTD.;2022-11-08;"This year's third quarter was our best third quarter in international public finance and second best in U.S. public finance in more
than a decade. We believe there's been a permanent shift in the market toward a greater appreciation of our value proposition as the
pandemic, the volatility in the markets and the global economy, geopolitical unpredictability and climate-related natural disasters have
reminded investors of the vulnerabilities of their investments.
 Municipal bond yields, which had risen dramatically in the first half of this year, continued to climb in the third quarter with the
benchmark yield for 30-year AAA GO bonds finishing at 3.9%.";1;1
MIND TECHNOLOGY, INC.;2022-12-14;"Recently introduced higher sampling
rates for SeaLink, which produces higher resolution images and configurable systems, have resulted in increased interest in these 3-
dimensional high-resolution systems.
 The ongoing global geopolitical and security situation, particularly in Europe and Asia, continues to highlight the need for our
maritime security and surveillance technology. We have recently experienced increased order activity, particularly for our multi-beam
side scan sonar systems, which we believe is related to these demands.";2;2
SKYWORKS SOLUTIONS, INC.;2022-05-03;"And we have the size and scale of our manufacturing assets to support some big important product launches and ramps
in the second half of the calendar year as well in mobile and broad markets. And so we are very well positioned to see
some strong sequential as well as year-over-year growth in the second half of the calendar year, of course, assuming no
worsening of the geopolitical or macroeconomic or pandemic-related issues that we have seen in the past.
 Christopher Caso
Raymond James & Associates, Inc., Research Division
As a follow-up, I'll ask on gross margins.";1;1
EVN AG;2022-12-15;"The remaining additional costs
should be reflected in future tariff decisions by the regulatory authorities.
 Due to the recent deterioration of the geopolitical and economic environment, above all, for global supply chains, we had to reassess
the risk and earnings expectations for EVN Group of the international project business of WTE. This resulted already during the
second quarter in impairment losses to goodwill in the international project business and to the residual carrying amount of the 2
combined sludge fired heat and power plants in Moscow.";3;3
EVN AG;2022-12-15;"I would like to conclude my presentation for the segments with the Environment segment. The geopolitical developments, being the
war in Ukraine, inflation, pessimistic economic outlooks, and global supply chain issues have changed the earning expectation for
the international project business of WTE. Therefore, right in the second quarter, we had to record impairment losses to goodwill in
the international project business in the amount of EUR 52.9 million, and total residual carrying amount of EUR 50.5 million of the 2
sludge-fired cogeneration plants in Moscow.

EVN AG FY 2022 EARNINGS CALL  DEC 15, 2022";3;3
EVN AG;2022-12-15;"The future development of earnings in the Environment Segment is always subject to the progress on international
projects, above all, the large scale project in Kuwait. Progress is subject to geopolitical environment, however, given that segment
results in '21/'22 were influenced by negative one-offs and improvement in earnings is expected in the current financial year.
 With this, I conclude the presentation of this segment.";3;3
THOMAS COOK GROUP PLC;2017-11-22;"To date, we've already reduced the cost of our interest on our fixed term debt by around GBP 18 million on
an annualized basis through liability management actions, such as paying down GBP 100 million of fixed-
term debt and replacing bonds with lower coupon rates.
 We'll continue to look for opportunities to further lower our interest costs, and we remain committed
to reducing our fixed term debt, albeit carefully balancing the liquidity needs of the business and the
economic and geopolitical outlook as well as the conditions in the capital markets.
 I'm now going to hand back to Peter, who will update you on our strategic progress.";3;3
BANCOLOMBIA S.A.;2022-05-12;"Juan?
Juan Carlos Mora Uribe
President & CEO
Thank you, Jose Humberto. Even though the levels of uncertainty that we are facing not only in Colombia with elections,
but with the global geopolitical conflict, we are positive with this year results. I want to close the call updating our 2022
guidance.";1;1
JSC HALYK BANK;2022-03-15;"In 2021, the Kazakhstan economy rebounded substantially throughout the major sectors of economy
on the back of restored business activity, efficient government support measures and oil price recovery. We are saddened
by developments of the current geopolitical situation in the region and greatly hope for the soonest diplomatic resolution of
the ongoing Russia-Ukraine conflict.
 We are constantly monitoring the situation and implications it might have on the economy.";1;1
JSC HALYK BANK;2022-03-15;"We see that it was a
very high profit, historically high profit for the next year. However, situation and events what are happening right now in
Kazakhstan and in the geopolitics around still have a lot of uncertainties and we would be more on conservative side. So
-- and we will consider and look to the situation, which is developing on a daily basis.";1;1
JSC HALYK BANK;2022-03-15;"Basically, I think the question is what is drivers for that growth? Is it something related to geopolitical
risks or your question is whether it's related to our anticipation of, let's say, reduction of GDP? We think that GDP growth
would continue this year because it's pretty much dependent on extraction sector, mineral sector.";4;4
BC TECHNOLOGY GROUP LIMITED;2020-08-13;"I guess six months on and the world
has changed dramatically, and everyone on this call have become experts with this medium. COVID-19 itself, along
with geopolitical tensions, have changed the way businesses operate, engage with their customers in a very significant
way in a very short period. We are not immune.";3;3
AS VIRSI-A;2023-03-03;"Janis Viba
Chairman of the Board
Yes, and also about key events and to [ comment a little ]. So what basically we think are the key events in '22 is obviously the first
one is this adoption to the reality of geopolitics. Because we remember that we started the year with COVID and we are having
this tragic war in Ukraine, and then we are having also some economic issues in several countries.";3;1
AS VIRSI-A;2023-03-03;"And then if we speak shortly about each segment, I will begin with fuel. So what is
happening in fuel is that basically, as mentioned, a lot of geopolitical impact on this because of which the supply chains are getting

AS VIRSI-A FY 2022 EARNINGS CALL  MAR 03, 2023
 Copyright © 2023 S&P Global Market Intelligence, a division of S&P Global Inc.";3;3
USANA HEALTH SCIENCES, INC.;2023-10-25;"You're still probably down 30% or more since 2018. You read about the geopolitical
tensions there. Can you just update us on where you sit today on your outlook for China versus maybe 5 years ago when it seemed like
an entirely different picture?
G. Douglas Hekking
Chief Financial Officer
Yes, Doug, we got someone who's incredibly qualified to answer that question in person.";4;4
MOODY'S CORPORATION;2019-10-30;"Issuance and activity increased after 4 consecutive quarters of decline, and was a key driver of our third
quarter operating performance. Central bank actions and falling benchmark rates created issuer-friendly
market conditions, overcoming continued geopolitical uncertainty and bearish global growth forecasts.
 Strong corporate fixed rate bond issuance, driven by opportunistic and M&A-related financing aided MIS
in delivering robust growth in the third quarter.";1;1
MOODY'S CORPORATION;2019-10-30;"I'll now discuss Moody's updated full year 2019 guidance.
 Moody's outlook for 2019 is based on assumptions about many geopolitical conditions and macroeconomic
and capital market factors. These include, but are not limited to: interest in foreign currency exchange
rates, corporate profitability and business investment spending, mergers and acquisitions and the level of
debt capital markets activity.";4;4
MOODY'S CORPORATION;2019-10-30;"And are able to be pretty candid in
sharing our thoughts and views and hearing their thoughts and views.
 That being said, I think it's difficult to completely separate the relationship with the authorities from
what's going on at a geopolitical level. And so we're behaving conservatively in terms of how we are
thinking about the pace and the nature of the opportunity in China.";3;3
MANHATTAN ASSOCIATES, INC.;2018-10-23;"While this is positive, deal size is maybe a bit smaller as
subscription revenue is recognized over time and product components are also easier to add over time in
contrast to the one-and-done enterprise deals. We also retain some caution around slow decision-making
by some clients, particularly retailers and potential global macro and geopolitical events that could impact
business investment cycles.
 Shifting to maintenance.";3;3
MANHATTAN ASSOCIATES, INC.;2018-10-23;"spglobal.com/marketintelligence
8
our adjusted EPS and adjusted operating margin guidance. To reiterate, we remain cautious regarding the
retail environment, the global macro environment given geopolitical and economic volatility, and finally,
our cloud transition. So for revenue, with 1 quarter remaining in 2018, we're adjusting our total revenue
guidance from the previous range of $548 million to $560 million to $552 million to $555 million, with a
midpoint estimate of $553.5 million.";1;1
TORM PLC;2023-11-09;"This has also brought along a higher volatility level
as the product tanker field has moved closer to the point of full utilization where even small changes in the underlying demand and
supply are creating high volatility in freight rates.
 In recent weeks, another devastating geopolitical conflict in the Middle East has shaken the world. So far, the impact on the product
tanker market has been marginal and more indirect via the oil price volatility, but a potential escalation of the Israel and Hamas
conflict to a broader region could have a more significant impact.";1;1
TORM PLC;2023-11-09;"So far, the impact on the product
tanker market has been marginal and more indirect via the oil price volatility, but a potential escalation of the Israel and Hamas
conflict to a broader region could have a more significant impact.
 On top of the geopolitical factors there are, of course, also other drivers that have affected the market, such as refinery maintenance
and temporary export ban in Russia, just to mention a few. The impact of this has nevertheless been smaller and up temporary in
nature.";1;1
LEONARDO S.P.A. FY NINE MONTHS;2023-11-09;"And we are now in a good track for the improvement of the free cash
flow that we promised at the very beginning to be one of the priorities.
 Concerning future actions, as we said 6 months ago, we've been working on governance and organization, a geopolitical strategic
positioning of the company and products and technology for the future. So let me update you on the progress in those 3 areas after 6
months of work.";3;4
LEONARDO S.P.A. FY NINE MONTHS;2023-11-09;"We cannot do this.
 Let's go now to the second promise to the second activity, which is geopolitical strategic positioning of the company. What to be very
clear, I'm strongly convinced that I -- of course, I discussed this with all our collaborators, executives and people in the company.";3;4
SOFTBANK GROUP CORP.;2023-05-11;"It's been very unstable or 1 year. There are big geopolitical risk, including Russia situations, U.S.-China
situations, which are kind of expected status but we have not been able to see any improvements so far. And also towards the end of
the fiscal year, we've been seeing the financial system instability, including Silicon Valley Bank, Credit Suisse and so on, which was
unexpected event for all of us.";3;3
SOFTBANK GROUP CORP.;2023-05-11;"So on -- it is going to be a very liquid assets once they go public and the listed company T-Mobile, Deutsche Telekom is
also -- maintain -- give us a good strength in terms of the liquidity as well.
 Regions, looking at the geopolitical situation. This is also important to keep in mind.";4;4
SOFTBANK GROUP CORP.;2023-05-11;"So from a stock market perspective, the climate might be better. And the volatility index has been sort of stabilized and geopolitical
risk indicator, which is created by BlackRock. When a surprise risk takes place, you see a huge hike.";4;4
SOFTBANK GROUP CORP.;2023-05-11;"In the last quarter, we see sign of improvement. However, from our perspective, that's not exactly the
case because geopolitical risk, Russian, Ukraine, U.S., China [ flexion ] around China, unfortunately, those geopolitical risk in the
last 1 year have not been addressed and we don't see any solution. So we have to keep that risk in mind.";1;1
SOFTBANK GROUP CORP.;2023-05-11;"Kana Inagaki
[Interpreted] Inagaki from Financial Times. To Goto-san, in the presentation, you mentioned a lot about geopolitical risks. You
stressed geopolitical risks.";4;4
SOFTBANK GROUP CORP.;2023-05-11;"To Goto-san, in the presentation, you mentioned a lot about geopolitical risks. You
stressed geopolitical risks. And you also mentioned that there's no solution.";4;4
SOFTBANK GROUP CORP.;2023-05-11;"And you also mentioned that there's no solution. That's why you are very concerned about geopolitical
risks. Without solution against those risks, how are you going to address them?";4;4
SOFTBANK GROUP CORP.;2023-05-11;"And we quantify risks and use that information as judgment is very important. Of
course, China is something that we are concerned about from a geopolitical perspective, but Russian-Ukraine issue is the biggest.
 Operator
[Interpreted] And next question is Mr";1;1
IHI CORPORATION;2023-05-09;"In these regards, the original purpose of Project Change, which was to prepare for business transformation is being
fulfilled.
 On the other hand, instability in societies has become the norm, such as COVID-19 and geopolitical instability, including issues in
Ukraine. Under such a business environment, we feel we need to further enhance corporate strength.";1;1
ARMSTRONG WORLD INDUSTRIES, INC.;2023-10-24;"I think overall, I think the level of uncertainty remains in the marketplace. Even though the uncertainty was driving a lot of
the back half expectations for softer economic conditions that didn't materialize, I still think given the geopolitical issues and I
think interest rates, there's still some uncertainty around their overall impact on the economy. And I think that gives -- especially
discretionary area of renovation work, I still think there's some pause there.";1;1
KB FINANCIAL GROUP INC.;2018-04-19;"For the Korean economy, on the back of global economic recovery and better Korea-China relations, GDP
growth is expected to be around 3%. And with the holding of the summit talks between the 2 Koreas,
geopolitical risk is expected to alleviate, creating an overall favorable backdrop.
 Under such backdrop, underpinned by stable group margin, we plan to grow loans to high-quality SMEs.";2;2
NOVELIS INC.;2023-02-06;"Our
fiscal third quarter was difficult with weaker-than-expected results. We projected that macroeconomic headwinds and geopolitical
instability would continue to pressure the business, driving an extraordinary inflationary environment and high energy costs, in
addition to negatively impacting interest rates, aluminum prices and scrap spreads.
 However, the third quarter proved to be even tougher than anticipated.";1;1
ENEA AB FY NINE MONTHS;2022-10-26;"Cybersecurity is
our newest business area through the acquisition of AdaptiveMobile Security last year. We continue to see strong development --
solid development of that business area and of course a high attention on the market on cybersecurity enhanced by the geopolitical
environment. Having said that, we also see challenges of the market; energy prices, inflation, higher interest rates do create pressure
for customers and it does affect the investment climate.";3;3
ENEA AB FY NINE MONTHS;2022-10-26;"We also see a strong movement driven by efficiency and agility towards what can be called
the Digital telco where the first movers are really setting the scene now to reshaping the industry, basing operations for example on
model cloud technology and cloud operations. Cybersecurity is by no doubt one of the hottest areas in our industry driven by increased
geopolitical tension. We see evidence of attacks almost all the time and we know that mobile networks are strategic and therefore
potential targets.";1;1
NOVAGOLD RESOURCES INC.;2021-01-28;"I'm a believer in Economics 101. And the truth is that if you would superimpose the multiplicity of black swans
that exist economically, geopolitically, militarily onto the incredible disequilibrium between supply and demand, the mining
industry and the jurisdictional risks, you really are looking at an accident that's already happened. It's an implosion of
the industry in certain respects, which is very bullish for gold and bullish for those companies that can profit from these
factors.";2;2
NOVAGOLD RESOURCES INC.;2021-01-28;"He used to say, ""It's Frank's world, we're just living in it."" Well, unfortunately, I think that that's what's happening
now on the geopolitical stage. And we should count our blessings, suffice to say.";4;4
APEX FROZEN FOODS LIMITED;2023-06-05;"We have uploaded the investor presentation on the website of the stock exchanges, and we hope you have had a chance
to go through it.
 The financial year 2023 started on a challenging note due to the geopolitical tensions, especially for export-oriented companies that
had just recovered from the after effects of the COVID pandemic. This, in turn, of course, elevated the risk mitigation measures by the
major economies in the world, leading to inflationary pressures as well as recessionary sentiments.";1;1
K-BRO LINEN INC.;2023-03-22;"In 2022, our results reflected a few key factors. While our revenue has returned to pre-COVID levels, our EBITDA margins were
impacted by temporary labor inefficiencies and higher inflation related and energy costs stemming from the COVID pandemic
and certain geopolitical events. We're actively managing these factors and working with many of our Canadian, U.K. customers to
implement price increases to offset higher inflation-related costs.";3;3
ION GEOPHYSICAL CORPORATION;2019-02-07;"All Rights reserved.
 spglobal.com/marketintelligence
5
and deals continue to be pushed out due to geopolitical challenges and conservative exploration spending,
which I'll discuss further. The previously anticipated improvement in deal flow in our E&P Technology
& Services segment continue to be impacted by limited exploration spending and two key geopolitical
factors; the Panama license round delay and the Mexican presidential election, changing the E&P
landscape.";3;3
ION GEOPHYSICAL CORPORATION;2019-02-07;"spglobal.com/marketintelligence
5
and deals continue to be pushed out due to geopolitical challenges and conservative exploration spending,
which I'll discuss further. The previously anticipated improvement in deal flow in our E&P Technology
& Services segment continue to be impacted by limited exploration spending and two key geopolitical
factors; the Panama license round delay and the Mexican presidential election, changing the E&P
landscape. Panama and Mexico data sales were expected to contribute $30 million to $40 million in the
back half of 2018.";3;3
MANHATTAN ASSOCIATES, INC.;2018-07-24;"While this is positive, deal sizes may be
a bit smaller as subscription revenue is recognized over time and product components are also easier to
add over time in contrast to the won-and-done enterprise deals.
 We also retained some caution around slow decision-making by some clients, particularly retailers, and
potential global macro and geopolitical events that could impact business investment cycles.
 Shifting to maintenance.";1;3
ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"So first point is all around the forces driving the sector. We have been serving quite a moment in terms of geopolitical and
macroeconomic instability. And this has been reflected in the worsening of the ICT distribution volumes across all European
countries.";1;1
ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"Well, it's been and it is a year of transition. We are accelerating the implementation of our group strategy, which we
have stated more than once, and we have been doing it between geopolitical and macroeconomic instability and a lot of ICT sector
challenges. More specifically, what does it mean accelerating the strategy.";1;1
ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"But with gross profit margins and
EBITDA margins well above 2021, having achieved them with lower revenues.
 What about the future, the macro and geopolitical scenario has changed the ICT market. It looks like yesterday, when we were
thinking of a major growth in terms of the GDP out of the pandemic, but then war, inflation, rise of interest rates, all hit the market
and changed the scenario for all industries, I would say.";1;1
ESPRINET S.P.A. FY NINE MONTHS;2023-11-14;"Well, there's at last a forecasted
recovery for our industry 2024, lower in H1, stronger in H2. Of course, everything influenced by geopolitical and economic
instability. There's been a lot of changes in the market and they keep happening, but there are new interesting areas of growth: AI,
cybersecurity, everything as a service, sustainability.";1;1
THE DUCKHORN PORTFOLIO, INC.;2022-03-10;"As Alex discussed, our first half
performance demonstrated continued strong performance and sales execution. We are also mindful that COVID-19 and
geopolitical upheaval present meaningful uncertainties as we forecast our business.
 We expect strong brand performance to continue through the second half, although growth rates will moderate as we
cycle the recovery of on-premise in the back half of last year.";1;1
THE DUCKHORN PORTFOLIO, INC.;2022-03-10;"So I think that, that would be the offset to some inflationary
pressures.
 And then finally, take it geopolitical or inflation, when -- typically, when consumers get a little nervous, they go to trusted
brands. And I think with 45 years of doing a really good job, we would fit into that category.";2;2
HELIX ENERGY SOLUTIONS GROUP, INC.;2023-02-21;"So that's had the effect of cooling the demand for P&A in the near term. I see that
returning probably in '24, '25 time period depending on geopolitical events, but that's the North Sea. There is a huge backlog of work
though that needs to be done.";3;3
ZAI LAB LIMITED;2022-05-11;"While COVID-19 did not have a significant impact on our business in the first quarter, it has presented access difficulties,
which we believe are likely to have a modest impact in the second quarter in China.
 Even so, we remain very confident in the underlying strength of our business despite the COVID-19 situation in China and
the current macro and geopolitical hindrance. The fundamental drivers of value at Zai Lab are further strengthened to our
expanding leadership team, global talent and our ever growing pipeline.";1;1
CRITEO S.A.;2022-05-04;"As a reminder, our financial guidance
for Q2 and fiscal year 2022 excludes the proposed acquisition of IPONWEB. Like everyone else, we remain cautious
about our outlook for the remainder of the year given the uncertain macro backdrop and ongoing geopolitical issues, high
inflation, continued lockdowns in Asia and global supply chain disruptions.
 For 2022, we have updated our guidance and now anticipate constant currency growth of 8% to 10% in contribution
to ex-TAC.";1;1
FLEX LTD.;2020-10-29;"As I think about Q4, I would
anticipate trends roughly in line with typical seasonal declines. While I would certainly like to provide as much visibility as
we can, given the continued uncertainty from the pandemic and the geopolitical concerns, we will refrain from providing
complete Q4 or full year fiscal '21 guidance at this time.
 Now I want to talk about our solar space.";1;1
FLEX LTD.;2020-10-29;"I'll say that on trade,
we expect that the overall kind of -- based on whether President Trump continues or we have a new government, we
think the focus on China continues to some extent. We believe that the focus on regionalization will continue to be a
conversation across our customer base just to derisk whether it is due to geopolitical issues or whether it's related to
health pandemic issues.
 We think the green investment is a plus for us.";3;3
EQUINOX GOLD CORP.;2022-08-04;"Even
though it came down just under 10% from its highs, it's still outperformed almost every other asset class this year and
the general decline of all asset classes, but there's still a very, very strong case for gold and a very strong case for gold
moving higher in the foreseeable -- in the very near-term future and longer-term future. Obviously, it responds well in the
geopolitical turmoil, which I think we can say we have today between what's going on in Asia, what's going on in Ukraine.
 Certainly, we have persistent inflation.";2;2
PARAGON CARE LIMITED;2023-08-30;"We used to talk about this as being an opportunity limited to
just China. There are certainly geographical -- geopolitical challenges, and that's something that's focused entirely on China, but we
think the opportunity is much broader than that. And while we'll initially focus on Asia, the work we've done, I think, shows us that
there's potential opportunities in Europe and the U.S. as well.";2;2
ETSY, INC.;2018-08-06;"Revenue guidance also moves up to 33% to 35% year-over-year, and we
expect our adjusted EBITDA margin to remain 21% to 23% as we are focused on growth investments.
 We continue to point to several headwinds that may offset the growth we expect in 2018, such as GDPR,
potential churn from our new pricing model, foreign exchange, and various geopolitical events. For
additional factors that may impact our guidance, please refer to our Q2 presentation on our Investor
website.";1;1
POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SP...;2022-08-18;"Now we also have another -- we have further factors that have, let's say, affected
this very positive part, PLN 422 million. I believe that geopolitical and regulatory factors that might play in the issue.
 Now let us take it a step further.";4;4
DAVIDE CAMPARI-MILANO S.P.A.;2019-05-07;"For the full year, looking ahead, our outlook remains fairly balanced both in terms of risks as well
as opportunities and unchanged to the previous announcements. The underlying performance, we'll
see continued positive business momentum and sales growth, this despite the uncertain geopolitical
macroeconomic environments. But from quarter-to-quarter, we'll reflect different comparison basis.";1;1
DEUTSCHE LUFTHANSA AKTIENGESELLS... FY NINE MONTHS;2016-11-02;"This is of
course not satisfactory; however, the figure is better than we originally expected and proves that the
steering and capacity measures we have initiated over the summer are having a positive effect.
 Nevertheless, the decline in fuel prices, which is about 1/2 of the number I just showed you, and the
particular geopolitical deterioration had a highly adverse impact. In a more stable environment and with

DEUTSCHE LUFTHANSA AKTIENGESELLS...";1;1
DEUTSCHE LUFTHANSA AKTIENGESELLS... FY NINE MONTHS;2016-11-02;"And we are
not expecting any improvement here in the next few months, because tourist demand in Asia is a less
spontaneous business. A recovery is only anticipated from next year and subject to the geopolitical
situation being perceived as somewhat less tense. We do, however, expect the new joint venture with Air
China to have a positive impact.";3;3
DEUTSCHE LUFTHANSA AKTIENGESELLS... FY NINE MONTHS;2016-11-02;"Obviously, as mentioned before, we don't think so.
 With shoe [ph] prices being a little bit higher than before and the relative economic development in
Continental Europe, and hopefully the geopolitical situation not getting worse, can be a good reason to
believe that we have seen the worst here when it comes to unit revenues decline. And also, once again,

DEUTSCHE LUFTHANSA AKTIENGESELLS...";1;1
HORIZON GLOBAL CORPORATION;2022-08-09;"During the quarter, consumers experienced the impact of inflation on pricing across virtually all consumables. They faced
uncertainty associated with the trajectory and duration of that inflation, continue to witness geopolitical conflicts and rising
tensions around the world and continue to endure the impact of supply chain constraints on product availability. When
you add in heightened inventory levels held at our non-OEM customers at the beginning of the quarter, it resulted in a
significant impact to our top line and margin.";1;3
AIR FRANCE-KLM SA;2022-05-05;"Let's start by looking at the big picture of the airline industry at the global level. Very
beginning of the year was marked by a resurgence of COVID due to the Omicron variant and a tense geopolitical context
in Ukraine, which didn't help in the short term. However, this negative impact seems to have been limited in time.";1;1
AIR FRANCE-KLM SA;2022-05-05;"This is particularly true in Europe with intra-European capacity now at about
89% end of the year 2019 capacity levels and transatlantic capacities also up sharply at about 80%, both key markets for
our group. While we remain cautious regarding the health and geopolitical context, our operating environment continues to
improve.
 Turning now to Page 4.";1;1
AIR FRANCE-KLM SA;2022-05-05;"Turning now to Page 4. For Air France-KLM, this positive environment resulted in an encouraging performance in the first
quarter, slowed somewhat by Omicron and the geopolitical context in January and February, but which bounced back very
well in March. This momentum points to a solid summer in 2022.";1;1
NEWMONT CORPORATION;2023-02-23;"We then look at what are the mega trends impacting the world, our industry and our company, and those mega trends are coming from
society to investors. They're coming from technology, and they're coming from geopolitical events around the world as we're seeing
playing out. So we understand and assess those mega trends and determine what set of capabilities and what sort of organization we
need to be 10 years from now, 15 years from now, 20 years from now.";3;4
PIONEER NATURAL RESOURCES COMPANY;2022-05-05;"Robert Alan Brackett
Sanford C. Bernstein & Co., LLC., Research Division
I have a question around the dividend yield. It's almost a bit of a half empty half full cup argument, which is to say you've
made a pretty compelling case around higher margins than peers, lower OpEx, longer inventory, better geopolitical
position in terms of pure-play Texas, yet your peers have had their share prices bid up or their dividend yield bid down to
significantly lower levels. So it begs the question, what are you guys being valued on?";4;4
CERUS CORPORATION;2022-05-05;"Product revenues for the first quarter of 2022 are the highest for
any first quarter in our history as we report year-over-year growth in all major geographic regions to start 2022. With our
20th consecutive quarter of year-over-year revenue growth, we are demonstrating an enduring ability to expand access to
INTERCEPT treated blood components even in the face of geopolitical and economic uncertainty. Our results were once
again led by strong growth for platelets in the U.S., which was up over 130% on a year-over-year basis.";1;1
ELASTIC N.V.;2023-11-30;"During the second quarter, we saw continued improvements in cloud consumption patterns as customers increase their consumption
against commitments that they had previously made. With that said, we continue to monitor consumption patterns against the
backdrop of an evolving macro and geopolitical environment. While many customers have already gone through optimization of their
consumption use cases, we do continue to see cost consciousness and spend management as themes in the market.";1;1
TOTAL S.A.;2019-07-25;"Brent was at $60 per barrel in June,
down from a high of $74 per barrel in April. And in July, it has been regaining strength with support from
OPEC and geopolitical tensions. Natural gas prices, notably NBP in Europe and spot LNG in Asia, have
fallen sharply in a move that we attribute mainly to mild weather in the face of ample supply.";4;4
VICTORY CAPITAL HOLDINGS, INC.;2023-11-03;"This bodes well
for accelerating the already positive net flow momentum at WestEnd that I mentioned earlier. With the trillions of dollars that is
currently invested in cash and cash equivalents, we are exceptionally well positioned in anticipation of investors eventually re-risking
portfolios when there is more visibility around the direction of interest rates, as well as economic and geopolitical conditions, given
the investment performance in our fixed income products and our distribution positioning. Moreover, our suite of equity offerings
continues to perform very well, and our distribution positioning within our different channels is as strong as ever.";2;2
TRIFAST PLC;2023-11-21;"We are, though, at the early stages of our turnaround journey,
and there remains a lot for us to do. And at the same time, we're facing an increasingly challenging macroeconomic and geopolitical
environment, through which we must navigate and remain focused on our execution to maintain the positive momentum that you'll
hear that we've started.
 We're working through our strategy and our turnaround plan, which, coupled with the delivery of our margin, operational and working
capital improvement programs, will ensure that we deliver on our midterm targets.";1;1
TRIFAST PLC;2023-11-21;"For working capital improvements, we're looking at using the systems for scheduling and EDI messaging and also consignment
inventory conversations with our supply base. We're looking at nearshoring too, and that enables us not just to derisk the supply chain
geopolitically, but also for us to achieve our sustainability goals over time.
 Then as we turn to the customer, you'll see 2 things referenced on this bar: G200, which is our Global 200 customers; and HYMS,
an acronym which means high yield market segmentation.";3;3
GEM DIAMONDS LIMITED;2019-09-05;"The global economic backdrop is still difficult and uncertain, even though
that the U.S. economy is growing, perhaps more so on the tech side. The issue of rising geopolitical
tensions and the trade war, really is causing huge uncertainty with the merge ebbing and flowing. And the
last point under the left-hand column is that China has regained its status as the fastest-growing major
economy ahead of India, but it looks as if the 6% is under threat there.";1;1
HEINEKEN HOLDING N.V.;2023-07-31;"Looking further ahead, the unprecedented commodity and energy cost inflation in
recent years will be partially reversed next year, easing the pressure on pricing.
 Together with the structural changes we are making with EverGreen, we are confident this will set us up for a balanced growth
delivery in '24, while we remain cautious about the macroeconomic and geopolitical environment. Our strong cost and productivity
efforts will continue and enable further support behind our growth agenda, fund investments behind EverGreen and contribute to
operating profit growth.";1;1
VARROC ENGINEERING LIMITED;2023-11-07;"Good evening to everyone, and I thank ICICI Securities for hosting this call. To start with, the geopolitical
situation in Europe and the Middle East has created uncertainty in the global business environment. The interest rates may come under
pressure if inflation goes up further due to a spike in oil prices.";1;1
VARROC ENGINEERING LIMITED;2023-11-07;"Passenger vehicle grew by 5.6% year-over-year, and sequentially, by about 12.7%. So we still need
to see what kind of impact all these geopolitical developments will have on the economy and the industry going forward. But we are
hoping that the festival season should help us to some extent in Q3 also.";1;1
VIRTRA, INC.;2023-11-14;"This can
primarily be attributed to the longer lead times for the international pipeline. And while our international pipeline has grown, the
current geopolitical tension and U.S. government budgeting issues have affected the expected release dates of those opportunities. We
do expect higher close rates in the next several quarters as that funding and those projects are released.";3;3
SEADRILL LIMITED;2022-09-01;"For many years, the distressed and oversupplied
jack-ups segment had a little prospect of seeing market utilization of up the critical 90% threshold. However, current geopolitical
tensions have impacted strongly on contracting opportunities as the Middle East producers to presently control shallow water

SEADRILL LIMITED FQ2 2022 EARNINGS CALL  SEP 01, 2022
Copyright © 2022 S&P Global Market Intelligence, a division of S&P Global Inc.";3;3
WOODWARD, INC.;2016-04-19;"We are also seeing increased demand
for smart weapons that use our actuation systems. With no anticipated change in the geopolitical
environment, we expect defense to remain solid for the foreseeable future.
 Turning now to Industrial.";2;2
MASTEK LIMITED;2022-01-20;"So what is
your thought process behind this? Is it a geopolitical risk is there or what is basically stopping us to go for a larger number
of deals over there?
 Hiral Chandrana
Global Chief Executive Officer
No, so maybe I can clarify that a little bit.";4;4
THE CARLYLE GROUP INC.;2022-11-08;"Moving on, let me discuss the broader environment and how that impacts our investment outlook. All of you see the same things
we do: rising interest rates, high levels of inflation, geopolitical uncertainty, each of which lead to increased market volatility and
headwinds for investors and operators. This is unlikely to resolve in the short term, though our teams are not sitting back and waiting
for better days.";1;1
THE CARLYLE GROUP INC.;2022-11-08;"As you've heard, Carlyle delivered strong third quarter and year-to-date results in a
particularly challenging quarter, a testament to the strength of our investment platform and the quality of our 3 global business
segments. While economic and geopolitical uncertainties are creating headwinds, our business continues to deliver impactful results.
 Consider the following: Fee-related earnings of $632 million year-to-date are up almost 50% from the same period last year and are
already higher than any full year in the firm's history.";1;1
QINETIQ GROUP PLC;2023-11-16;"So as I highlighted at our recent investor seminar, the world is experiencing the most severe threat
environment for a generation with conflict escalating in Eastern Europe and the Middle East as well as growing tensions in the Indo-
Pacific. Within this geopolitical context, we are a differentiated company with a unique value proposition. In response to the threat,
we deeply partner with our customers to rapidly create and experiment with new capabilities, test those capabilities are safe and
perform as intended and ensure our war fighters are trained and operationally ready to use those capabilities.";2;2
FOSUN INTERNATIONAL LIMITED;2022-08-31;"spglobal.com/marketintelligence
5
 Well, in the first half of this year, as we know that because of geopolitical and also capital market and also the resurgence in
COVID-19, there are a lot of challenges. And for Fosun International, and based on our 4 engines and our strategy, we have seen very
stable growth in the first half of this year.";1;1
FOSUN INTERNATIONAL LIMITED;2022-08-31;"And now I'd like to talk about our strategy and also corporate governance
in H1 2022.
 So in the past 6 months, we see the tension in geopolitics. And also, we see the resurgence in pandemic.";4;4
AU SMALL FINANCE BANK LIMITED;2023-01-19;"We are on the course of namely a robust foundation
for building a sustainable and a scalable bank.
 In terms of micro, you all know that global economic activity has been slowing down due to the adverse impact of geopolitical
tensions, tightening global financial conditions, persistently high inflation and sharper than expected monetary tightening by central
banks globally. Consequently, India continues to face intensified pressures due to the global inflationary trends, weakening global
demand and high volatility in portfolio flows.";1;1
AU SMALL FINANCE BANK LIMITED;2023-01-19;"I remain confident of our business model and execution capabilities and optimistic that we are well positioned that AU
will deliver for a robust Q4.
 You would agree with me that despite the macro economic headwinds and the geopolitical challenges, India has emerged as a bright
spot in the global arena. Similarly, within the banking landscape, I believe India is listed to act sweet spot.";1;1
ENIGMO INC.;2023-03-16;"We would like to try anyway to create a second
business pillar following the BUYMA business and establish a new revenue base. We intend to make this year the foundation for
creating a business portfolio that mitigates the impact of foreign exchange rates and geopolitical factors.
 As for specific targets, we have set two major themes for this fiscal year: the evolution of the customer experience in the BUYMA
business and the creation of a new revenue base through new businesses and M&A.";3;3
ENIGMO INC.;2023-03-16;"On the other hand, we may consider dropping them to Tier 2 or, in some cases, selling them to outside companies if they are no longer
in step with the times. In this way, we will always determine the areas of our strategic focus and build a business portfolio that is less
susceptible to the influence of the times, currency exchange rates, and geopolitics, but can grow continuously and take advantage of
our strengths.
 As part of these efforts, we strategically invested in Cykinso, Inc., the number one company in terms of the number of intestinal flora
tests conducted, to enter a new area of business.";1;1
HERMÈS INTERNATIONAL SOCIÉTÉ EN COMMANDITE...;2021-07-30;"These good results reward the extraordinary
work of all our teams and the solidity of our model, but we remain aware of the uncertainties linked to the pandemic and
the global context.
 In the medium term, despite the economic, geopolitical and monetary uncertainties in the world, the group confirms an
objective of ambitious progression of its revenue at constant exchange rates. The 2021 theme, a guiding thread of the
creation, is that of the Odyssey, and thus, we pursue our journey such as the Odyssey's, faithful to himself despite the
challenges and successes.";1;1
TTK PRESTIGE LIMITED;2022-05-30;"So obviously, we wanted to first feed the domestic market before we go for the export market. Now we believe that
exports do offer us an opportunity because of China and the new geopolitical situation, and the China Plus One
happening with all buyers. And we believe that we are here to capture -- capitalize on that.";2;2
FIERA CAPITAL CORPORATION;2018-11-09;"Investors had plenty to contemplate during the third quarter,
including an escalation of President Trump's protectionist agenda, turmoil in emerging markets and
politically charged environments in Europe. The good news is that the direct economic impact from these
geopolitical tensions is likely to be manageable. Despite the hostile trading environment and despite
the market correction experienced in October, we expect the global economy to continue continually
driven.";1;1
FIERA CAPITAL CORPORATION;2018-11-09;"Furthermore, the fiscal stimulus for both the U.S. and China is set to expand
the economic upturn well into 2019 and provide a buffer as major central banks take coordinated steps
towards monetary policy normalization.
 Taken together, narrative for the -- of a synchronized global expansion remains firmly intact, while the
accommodative monetary and fiscal impulse should allow the expansions to continue uninterrupted in the
coming year, helping to overcome the uncertain geopolitical backdrop at hand.
 Looking ahead, we are enthusiastic about our 2022 strategic plan, which aims to establish Fiera Capital as
a top-tier multi-strategy asset manager recognized for providing the best solutions to our clients globally.";1;1
THE HONGKONG AND SHANGHAI HOTELS, LIMITED;2020-03-17;"There's a slight decline in RevPAR.
 The Middle East market segment was impacted by the U.S. administration's travel restrictions and
geopolitical tensions. The hotel's food and beverage performance improved in 2019.";1;3
BROWN-FORMAN CORPORATION;2023-06-07;"We are optimistic as we look ahead. We have now cycled through the largest impacts of the
pandemic and after the global macroeconomic and geopolitical volatility experienced in fiscal 2023, we believe trends are beginning
to normalize around the world. After 2 years of strong growth, which were well above our long-term trends, we continue to believe
that the strength and increasing premiumization of our portfolio of brands, the resilience of our people and the strategic investments
we have made will deliver continued growth on this elevated base.";1;1
TP ICAP GROUP PLC;2023-03-14;"I'll start with Global Broking. Total revenue in Global Broking was up 7% at GBP 1.3 billion with growth in all
asset classes in a year of significant volatility driven by geopolitical events and a highly uncertain macro environment. Rates remains
our largest and most profitable asset class.";1;1
TP ICAP GROUP PLC;2023-03-14;"In foreign exchange, there were 3 key drivers of volatility in volumes in 2022. The strength of the U.S. dollar, the pound
hitting all-time lows in conjunction with inflationary pressure and geopolitical uncertainty.
 Looking ahead, we expect recessionary pressures and interest rates to continue driving currency volatility.";1;1
NOVA LTD.;2022-08-04;"While we keep gaining momentum from multiple industry growth driver in
various semiconductor segments, we continue to expand our portfolio diversification and its market adoption to secure
long-term growth and outperformance. This quarter results demonstrate once again the resiliency we're embedding into
our operating model, which continues to be strained by multiple elements, including supply chain issues and various other
macroeconomics and geopolitical concerns. We believe that the fundamental changes implemented in the company over
the last 2 years to meet our strategic goal of reaching $500 million in revenue will significantly strengthen the company
position in multiple verticals and markets in the next few years.";3;1
ORIENTAL CARBON & CHEMICALS LIMITED;2022-08-03;"Hope each one
of you had a chance to go through the same.
 The global economy is reflecting high inflation and supply chain disruptions on account of geopolitical tensions. High
energy prices have impacted industries across sectors.";1;3
ORIENTAL CARBON & CHEMICALS LIMITED;2022-08-03;"There has been a surge
in demand for tippers and tractor trailers. Automotive and tire demand shall improve with the expected moderation in
inflationary pressures and improved geopolitical sentiments.

 ORIENTAL CARBON & CHEMICALS LIMITED FQ1 2023";2;2
VIMTA LABS LIMITED;2023-10-30;"Before Narahari takes you through
our numbers in detail, let me run you through the general economic landscape and more specifically on how our industry and business
have done during Q2. The global economy remains unsettled with persistent inflation, which is coupled with geopolitical disruption,
as we all know. These uncertainties have dampened the global consumer demand triggering a ripple effect across multiple industries.";1;1
TAKEDA PHARMACEUTICAL COMPANY LIMITED;2022-05-11;"Soticlestat, a development for rare pediatric epilepsy disorders, has experienced a delay in the target filing date to
FY2024. This delay was due specifically to the geopolitical situation in the Ukraine and Russia, as well as COVID-19
lockdowns in China. We are taking multiple, multiple approaches to enhancing clinical enrollment in order to minimize
delays and optimize global filing timelines.";3;3
TAKEDA PHARMACEUTICAL COMPANY LIMITED;2022-05-11;"The previous timeline assumed filing an approval on a positive interim analysis, for which we remain hopeful but not
presumptive. In addition, the program has had global site challenges from the geopolitical situation in Ukraine and Russia,
COVID-19 lockdowns in China, and US enrollment challenges due to the approval of both EXKIVITY and amivantamab.
 Going forward, we see great potential to further enrich our pipeline.";3;3
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.;2019-07-31;"This budget
agreement once signed in the law positions several large Kratos programs, including our drone business
to begin development, begin initial production or realize increased production, we believe positioning the
company for sustained significant future organic growth.
 Additionally, as a result of the increasing geopolitical threat environment, we could see even higher
defense budgets in the future as indicated by the 5-year future years' defense program plan or FYDP,
which was recently released in March of this year.
 Directly related to increasing defense budgets, the recapitalization of strategic weapon systems to address
peer and near peer threat is accelerating globally in Kratos' primary business areas of unmanned systems,
missile defense, hypersonics, space, microwave electronics and training systems are well positioned to
address the U.S. and our allies' mission-critical national security priorities and requirements.";2;2
MASTERCARD INCORPORATED;2022-07-28;"Inflationary pressures have remained persistent, and we are now seeing central banks taking even
more aggressive steps to reduce inflation as we have seen with the Fed yesterday.
 The situation has been compounded by geopolitical tensions and supply chain constraints, which have eased from
pandemic peaks but remain in many industries. Despite this, unemployment rates remain low, wages are rising and
consumer savings levels remain high.";1;1
MASTERCARD INCORPORATED;2022-07-28;"We
are well positioned to capitalize on this growth with our travel-oriented portfolios.
 As Michael mentioned, there are a number of macroeconomic factors that could influence future economic growth:
employment and wage levels, consumer savings levels, persistent and elevated inflation and rising interest rates and
geopolitical tensions in particular. We are monitoring each of these, but on balance, expect a modest improvement in
cross-border travel versus 2019 levels and a generally resilient consumer spending through the remainder of 2022.";1;1
MASTERCARD INCORPORATED;2022-07-28;"David Mark Togut
Evercore ISI Institutional Equities, Research Division
Among your largest geographic regions, Europe continues to generate the greatest payment volume outperformance
versus our model. You underscored a number of geopolitical and economic risks for Europe. Going forward, especially
as we head into the winter, can you talk through Mastercard's growth algorithm, what that might look like in a significant
economic slowdown in Europe?";1;1
TECAN GROUP AG;2022-03-15;"But clearly, I mean, as we all know, 2022 just started, a lot of dynamics around us, but maybe you hear
from my voice that we look at it positively. And we feel, particularly from the operational side, well covered as of course,
we can't kind of foresee any other macroeconomic or geopolitical events at this moment.
 Christoph Gretler
Crédit Suisse AG, Research Division
Yes.";4;4
JACOBS ENGINEERING GROUP INC.;2020-11-24;"Across all core sectors, our discrete solution sets are making progress, allowing us to cross-sell and leverage our global
market connectivity. While economic and geopolitical indicators point to continued volatility, we remain optimistic due to
our resilient and balanced portfolio across core sectors and geographies and our agility responding to shifting market
trends.
 Now I'll turn the call over to Kevin to discuss our financial performance in more detail.";1;1
LINDE AKTIENGESELLSCHAFT;2016-03-10;"This was particularly true in the emerging markets. In
addition, geopolitical tension, local troubled spots and low oil prices contributed to a market reluctance to
invest among other customers in the Engineering Division.
 Even under these circumstances, we increased revenue by 5.3% to EUR 18 billion.";1;1
KONGSBERG AUTOMOTIVE ASA;2022-05-13;"And these
are in particular the unexpected lockdown in economical important regions of China, which is for us as Kongsberg an
over-average profitable region; as well continuously high cost for semiconductors, which has impacted our Off-Highway
area strongly in Q1 and which apparently lasts longer into the year. So in addition, the industry as well, KOA as well
faces extended raw material and flexibility costs as general inflation costs combined with labor shortage driven by the
geopolitical situation.
 Looking into the cash flow then.";3;3
KONGSBERG AUTOMOTIVE ASA;2022-05-13;"It depends on further probably unexpected developments in this crisis situation. So what I'm talking about, the
extension of our lockdown in China or an extraordinary long time in the war could certainly influence here the geopolitical
situation but as well the consequently macroeconomic and as well the automotive area, again, including Kongsberg.
 But nevertheless, looking into today, we would like to announce here our guidance for the full year 2022 on an expected
level when it comes to the revenue, between EUR 900 million and EUR 935 million and an adjusted EBIT in the range
of EUR 38 million to EUR 44 million.";1;3
KONGSBERG AUTOMOTIVE ASA;2022-05-13;"But that's why we added here as well the disclaimer. As long as we don't have the crystal ball, we need to really
observe the market and the geopolitical trends.
 Jakob Bronebakk
Director of Investor Relations

KONGSBERG AUTOMOTIVE ASA FQ1 2022 EARNINGS CALL  MAY 13, 2022";4;4
KONGSBERG AUTOMOTIVE ASA;2022-05-13;"That was one of the topics.
 And the second topic was that at this stage, we were just starting to see these geopolitical tensions and the start of the
Ukraine war. We saw a global downturn, which in an extent was, at that time, completely intransparent for each and
everybody.";1;1
KONGSBERG AUTOMOTIVE ASA;2023-03-14;"2, let's say, implementation of raw material
price clauses in contracts, we had launch of benchmarking RFQs. We did resourcing, new shoring activities and sourcing on lower
costs, but we're looking as well to adjust our supply base towards the macro economical and geopolitical circumstances in order to
increase our independency and being more flexible and reacting more better in future on those crisis.
 But summing it up, we see the energy price and inflation still ongoing.";3;3
KONGSBERG AUTOMOTIVE ASA;2023-03-14;"So we found here for ready for execution, a quite good model. The other topic, what comes the second view or angle
view on this is certainly the geopolitical situation, which we need to consider here as well how we're keeping our, let's say, footprint
more stabilized and more independent and more preventive for every, let's say, geopolitical crisis. So both of these are forming our
new footprint strategy.";3;3
MICRO FOCUS INTERNATIONAL PLC;2022-06-22;"Looking more broadly, it feels like a whole new world has emerged since we last spoke. The geopolitical uncertainty
created by Russia's invasion of Ukraine, the resulting impact on energy prices and global supply chains, combining to
slow growth and spike inflation, not to mention the dramatic collapse in tech valuations have made the market backdrop
clearly more complex or even unprecedented.
 We are, of course, not immune to macroeconomic factors, particularly relating to costs and investment cycles, but I do
want to take a moment to draw out a few important points.";1;1
INGERSOLL RAND INC.;2022-08-04;"Demand remains very strong as we sit here today. And when we see the supply chain risk and geopolitical and macroeconomic
uncertainties continue to be a concern, we stay focused on what we can control while leveraging our strong balance sheet and
operational mindset to deliver on our own 2022 commitments and beyond.
 We also remain very agile in this environment, and you will see today how we continue to accelerate organic investments for growth
around innovation and demand generation.";1;1
TECH MAHINDRA LIMITED;2017-05-26;"In terms of how
the strategy will eventually play out, I and the team continue to remain very, very confident about this
approach that we are taking to business. So from a short term standpoint, just to conclude, we are really
looking at countries, portfolio, type of services and the other geopolitical issues that we are looking at in
a few countries that we were presented, that we inherited, that we will be looking to exit over the next
couple of months as well besides whatever we have done so far.
 Anantha Narayan
Crédit Suisse AG, Research Division
And just, Manoj, getting to my third question on the EBIDTA margins.";3;3
SGS SA;2019-07-18;"We have all had the chance to read the release by now, so
we'll just focus on a few of them.
 Consumer and Retail had a pleasing performance given the geopolitical backdrop. It continues to grow
strongly with 5.5% organic growth in the first half.";1;1
AMBARELLA, INC.;2020-11-23;"Q3 revenue of $56.1 million was above the high-end of our original guidance range. CV led the way but we also faced
stronger than expected demand for video processors, despite the persistent geopolitical and public health risks. Gross
margin of 62.7% was above the high end of our long-term model for the second consecutive quarter, reflecting a favorable
customer mix and continued operational execution.";1;1
AMBARELLA, INC.;2020-11-23;"I will now discuss the outlook for Q4 FY '21. Our visibility has improved, but we remain on guard for risks related to the
pandemic and geopolitical factors. Furthermore, as the semiconductor industry supply chain tightens, our operations
teams remain vigilant in their efforts to manage manufacturing lead-times and on-time deliveries.";1;1
AMBARELLA, INC.;2020-11-23;"First of all, it sounds like you're assuming the video process business to be flat in
fiscal '22. Is that just because of CV cannibalizing or you're just being a bit conservative there, too, given the geopolitical
tension still?
Louis P. Gerhardy
Director of Corporate Development & Investor Relations
Yes. Well, go ahead.";4;4
ASUSTEK COMPUTER INC.;2022-11-10;"Looking to slide number nine, our region mix. You can see that in Europe, the United States, and the Americas, because of various
issues, such as inflation, geopolitical issues, and lowering consumer confidence, the share for these two regions has gone down, but
the share of Asia, in particular, driven by Southeast Asia and India, has grown to 52%.
 Looking to the next slide, which is our outlook for Q4 of 2022.";1;1
MPC CONTAINER SHIPS ASA;2019-08-30;"Overall, the container shipping industry continues to endure macroeconomic uncertainty in Q2 and the full
of the first half of 2019, one prominent contributor of which being the unpredictability around the U.S.-
China trade tensions. Adding to this were other geopolitical impact factors such as the potential risk of a
global economic slowdown, all the impending IMO 2020 low sulphur regulations. Consequently, demand
forecasts for 2019 have been revised downwards in the course of the first half of 2019.";1;1
JANUS HENDERSON GROUP PLC;2018-07-31;"Second, there is annual initiatives and projects that we choose to invest in. And in 2018, that's dominated
by a number of mandatory initiatives required to be compliant with the changing regulatory regimes,
along with geopolitical elements like Brexit. And third is the impact of FX rates, primarily sterling-dollar
and a standard level of inflation that impacts our revenues and expenses each year.";3;3
KONTOOR BRANDS, INC.;2023-02-28;"Our team was with them
just this last week going through business plans and really laying out the assortment for the back half of the year. And we're going to
continue to invest in the brand and really monitor the geopolitical conditions that are out there. But we believe the long-term growth in
this really highly accretive region is there for us.";2;3
FRANCO-NEVADA CORPORATION;2023-08-09;"As a result, the sharp fall in energy prices impacted our GEOs sold
generated by our energy assets, which were 28,683 for the quarter compared to 50,387 in Q2 2022. As you will recall, energy prices
saw a sharp increase in 2021 and 2022 due to many factors with the largest being geopolitical tension.
 Slide 7 highlights our total revenue and adjusted EBITDA amounts for the 3 months ended June 30, 2023 and 2022.";1;3
IQVIA HOLDINGS INC.;2022-10-26;"Thank you for joining us today to discuss our third quarter results.
 IQVIA delivered another quarter of strong financial results despite market concerns about slowing demand, broader macroeconomic
challenges and the various global geopolitical issues. In fact, indicators of demand both from customers and in the market generally
remain healthy.";1;1
SHEELA FOAM LIMITED;2022-05-13;"We invested money into a unit close to Mumbai and started producing.
 There have been some, what I would say, starting up kind of hiccups, like shipping and availability of containers and then
the geopolitical situation changing, and therefore, the customer saying, let's put it to a little bit of a hold, then there is a
start and there is a stop, et cetera.
 But I could just say that most of those things or the teething troubles are getting sorted out.";1;3
TRICON CAPITAL GROUP INC.;2016-03-10;"It is something that we would like to
pursue, albeit more likely in the second half of this year. And our expectation is that spreads will tighten
a little bit as some of the kind of geopolitical overhang gets resolved and there's more stability in the U.S.
economy. So our target is to do something in the second half of this year.";1;1
JFROG LTD.;2022-08-03;"We don't see that impact on the smaller deals.
 Regarding the geopolitical question you had, what we see in EMEA is very similar to what we see in North America.
 We don't see any kind of headwinds coming from the geopolitical situation in Ukraine.";4;4
JFROG LTD.;2022-08-03;"Regarding the geopolitical question you had, what we see in EMEA is very similar to what we see in North America.
 We don't see any kind of headwinds coming from the geopolitical situation in Ukraine. Actually, EMEA responds to
the economic changes as North America, as I mentioned before.";4;4
ULTRA CLEAN HOLDINGS, INC.;2022-04-27;"We are
confident in our ability to navigate and adapt using the flexible operating protocols that have served us well since the
beginning of the pandemic. Broader macroeconomic and geopolitical instability continues to exasperate issues in an
already gradual supply chain. While we believe that China shutdown will be temporary in nature, we anticipate supply
chain challenges could persist for some time.";1;3
ULTRA CLEAN HOLDINGS, INC.;2022-04-27;"Kinney Chin
Cowen and Company, LLC, Research Division
Perfect. And I guess just switching to other regions, Europe, in particular, just from a logistics standpoint, I mean I guess,
just given the geopolitical situation now in Eastern Europe. Are you seeing any impact to like your delivery schedules for
any customers out in Europe at this time?";4;3
MAPFRE, S.A.;2023-02-09;"Now I will continue with the asset disclosure. The uncertain geopolitical and macroeconomic context, and
monetary policy obviously has affected the value of our investment portfolio as well as the pension and mutual funds, bringing assets
under management down by over 9%, you got at the bottom of the slide. Rate increases have been significant across regions, mainly
Spain, Italy, but also in the U.S. Spanish sovereign debt continues to be the largest exposure in our portfolio with nearly EUR 9
billion, a larger share of these positions are, as you know, allocated to immunized portfolios, reducing our exposure to higher rates.";3;3
PIPER SANDLER COMPANIES;2022-04-29;"Turning to Corporate financing. Market volatility, a drop in valuations and a more cautious investor outlook driven
by economic concerns and geopolitical risks have largely shut down the equity Capital Markets. After 2 years of
unprecedented activity, the pause was not unexpected.";1;1
MOLTEN VENTURES PLC;2022-11-22;"And so therefore, European VC is still a very, very interesting space.
 And we're still seeing a lot of activity, and we are still very confident that despite the -- some of the macroeconomic and some of the
geopolitical issues, that have affected the economies, the opportunity within European VC, we still think is both considerable and
exciting. As far as the tech businesses, and I know that there are a different -- a number of different ways you can view tech.";1;1
MOLTEN VENTURES PLC;2022-11-22;"And clearly, our model is to make sure that we continue to stay in the market and that we continue to be able to identify those
potential winners. So as far as outlook goes, for the second half of the year, we don't see any dramatic change to the level of
uncertainty, macroeconomic factors, the geopolitical tensions that we're seeing across Europe, we don't think those are going to
change significantly before our year-end to 31st of March.
 However, we would hope by the back of end of next calendar year, that we do start to see some improvement in the -- certainly the
stability of the environment.";1;1
DOLLAR GENERAL CORPORATION;2022-03-17;"First, I want to remind everyone that our fiscal year 2022 includes a 53rd
week which will occur during the last period of the fourth quarter. We also continue to operate in a time of uncertainty
regarding, among other things, the impacts on the business arising from the current geopolitical conflict and the recovery
from the global COVID pandemic, including recovery of the U.S. economy, changes in consumer behavior, labor markets
and government stimulus and assistance programs.
 Despite these uncertainties, including cost inflation, ongoing pressure in the supply chain and rising fuel costs, we are
pleased to provide annual guidance that reflects our confidence in the business.";1;1
BRITVIC PLC;2022-11-23;"In terms of FY '24, honestly, really, who knows? I think what we have learned over the last 12 to 18 months is the supply shocks that
come either from geopolitical or other constraints across the global supply chain. And what we've just got used to doing is dealing
with those really effectively.";3;3
AKAMAI TECHNOLOGIES, INC.;2022-08-09;"These forward-looking statements are subject to risks and uncertainties and involve a number of
factors that could cause actual results to differ materially from those expressed or implied by such statements. The factors
include any impact from macroeconomic trends, the integration of any acquisitions and any impact from geopolitical
developments. Additional information concerning these factors is contained in Akamai's filings with the SEC, including our
annual report on Form 10-K and quarterly reports on Form 10-Q.";1;1
AKAMAI TECHNOLOGIES, INC.;2022-08-09;"No matter which competitor they've been working with, they chose Akamai because of our superior performance and
reliability.
 Like many companies, we're managing through a time of substantial economic headwinds and uncertainty with escalating
inflation, the strengthening U.S. dollar, growing concerns about a global recession, escalating geopolitical tensions and
conflicts, and a slowing of Internet traffic growth as the world tries to return to normal in the midst of a pandemic. As Ed
will talk about shortly, I think it's prudent to assume that these headwinds will dampen our growth rates and profitability
over the next several quarters, particularly in our Delivery business, which is being impacted by the challenges that many
major media companies have recently reported.";1;1
STOLT-NIELSEN LIMITED;2023-10-05;"You will hear more about this in the segment highlights. Of course, this is subject to any sudden, significant, or
unexpected economic or geopolitical changes.
 Compared to our logistics peers, we are delivering an industry-leading performance that is, in my opinion, not at all reflected in our
comparably low PE or our stock price.";1;1
CALIFORNIA RESOURCES CORPORATION;2017-05-04;"We are
off to strong start in 2017. The oil markets remain volatile in response to geopolitical and macroeconomic
factors. However, we continue to leverage our operational flexibility moving to offense for smart, value-
driven growth as well as the strength in our balance sheet.";3;1
STOLT-NIELSEN LIMITED;2020-01-30;"So I am quite bullish for the segment.
 Despite geopolitical and macroeconomic challenges, the outlook for long-term fundamental growth and
geographical expansion remains strong.
 Stolt Sea Farm.";1;1
NAYAX LTD.;2023-05-10;"This highlights the operating expense
leverage across sales and marketing, R&D and G&A. Should there be a recession or a geopolitical development that impacts our
business showing revenue growth below our planning assumptions for 2023 or beyond, we will, of course, adjust our spending plans.
 Let me now discuss the impact of the macroeconomic environment as it pertains to the impact of the U.S. dollar in the first quarter.";3;3
JAPAN TOBACCO INC.;2022-02-15;"Of
course, we have a strong market share with our GFBs. But our biggest focus at this moment when it comes to Ukraine, of
course, is the geopolitical situation and to make sure that our operation and our people are prepared in case there's any
developments that are unfavorable.
 So our key focus at this moment is to make sure that if there's any developments on the geopolitical front, our people
will be safe, they will know how to handle themselves and where to go, and also that we have business continuity to the
extent possible.";3;3
JAPAN TOBACCO INC.;2022-02-15;"But our biggest focus at this moment when it comes to Ukraine, of
course, is the geopolitical situation and to make sure that our operation and our people are prepared in case there's any
developments that are unfavorable.
 So our key focus at this moment is to make sure that if there's any developments on the geopolitical front, our people
will be safe, they will know how to handle themselves and where to go, and also that we have business continuity to the
extent possible. So I think this is a key point I can mention at this stage about Ukraine.";3;1
ALLISON TRANSMISSION HOLDINGS, INC.;2023-04-27;"The first delivery is expected in Q3 of 2024 with the U.S. Department -- Defense Department forecasting 55,000
JLTV A1 and JLTV A2 vehicles over the next 2 decades.
 Today, global defense spending is on the rise, driven by the Ukraine war, shifts in geopolitical dynamics and the U.S. Department of
Defense modernization priorities. Allison is poised to capture growth in this cycle by continuing our long-standing partnership with
the U.S. Department of Defense, while diversifying our revenue sources by increasing our international sales.";2;2
ONTEX GROUP NV;2022-05-12;"We are taking the necessary measures to counter it
with continued savings efforts and repricing.
 Meanwhile, triggered by the geopolitical situation, we see an additional rise in raw materials and operating costs, with the
main indices increasing by an additional 10% to 30% in the last month. We cannot predict how things will evolve as we
have included in our updated outlook and will price against that.";3;3
ONTEX GROUP NV;2022-05-12;"Esther Berrozpe Galindo
Chief Executive Officer
So turning to the outlook for 2022. Clearly, the geopolitical environment in very uncertain, and the inflationary
macroeconomic situation with continued volatility in commodity and energy prices as well as supply chain disruption
means that visibility remains very low. Taking into consideration these factors, Ontex is currently reviewing the impact on
its midterm financial road map.";3;3
ONTEX GROUP NV;2022-05-12;"So as I said, the market remains volatile and challenging. And then the geopolitical environment has worsened the
situation. We had -- we talked about 3 targets for the midterm.";1;1
ONTEX GROUP NV;2022-05-12;"So thank you for your questions. And with the geopolitical and input cost environment, have created new challenges to
us. I do not want to lose sight of the performance of the team [ Ontex ] delivery, what we set out to do 12 months ago.";1;1
DUFRY AG;2023-03-07;"CapEx came in at 1.6% of turnover, influenced by some lower spending. Please bear in mind that the first quarter, we still have
discussions around Omicron and also about geopolitical tension. Having said that, we have spent all the CapEx which is required from
an operational perspective in 2022, and there's no spillover effect into 2023 or beyond.";1;3
ICHOR HOLDINGS, LTD.;2019-11-05;"Jeffrey S. Andreson
President
Well, there is a lot of different ways to go about trying to answer that question. And a lot of it is tied to
the different geopolitical trade wars and whatever is going on. Then to the extent that countries tried
to prioritize their internal manufacturing.";3;3
TITAN MEDICAL INC.;2022-08-11;"We will continue to carefully monitor and execute on our project plan. Additionally, we are monitoring economic and
geopolitical factors, including the ongoing Ukraine-Russia conflict, market instability, COVID variants, supply chain issues
and a tightening labor market, trying to anticipate and mitigate risk and impact where we are able.
 We will continue to grow our intellectual property portfolio, our knowledge and experience and our talented team to
strengthen the company and promote our position within the industry.";3;1
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.;2022-08-04;"Kratos is ready now with active production lines and in-place supply chain,
flying aircraft and known price points. We believe that Kratos is being ready now positioning and affordability, along with
recent global geopolitical events, demonstrating that the threat is real and that quantities do matter in a high-end conflict
will be a catalyst for us.
 Additionally, over the past several weeks, it has become clear based on publicly available information and our meetings
with customers that runway independence is an absolute critical requirement for affordable, reusable, disposable and
attritable drones.";2;2
KRATOS DEFENSE & SECURITY SOLUTIONS, INC.;2022-08-04;"And we've all been patient. We've
waited a long time, but we're doing everything we can to pull some of these in now that the geopolitical position has
changed. That's where our focus is primarily.";3;3
AYR WELLNESS INC.;2022-05-26;"Our Board and
management team regularly evaluate ways to optimize our balance sheet, and we see these financings as excellent
sources of value to our company and our shareholders. Particularly given the recent geopolitical uncertainties and
the volatility in the broader capital markets with cannabis equity valuations impacted, we remain focused on financial
discipline and maintaining a significant cash position. We will continue to focus on optimizing our balance sheet, including
efficiency in our cost structure and capital deployment.";1;3
AMERICAN HOMES 4 RENT;2022-02-25;"But the other great value of them is, as we know, there's a lot of volatility to the public markets at large. We're seeing it
right now, obviously, from a geopolitical standpoint and having access to really high-quality long-term forms of capital in
the form of our JVs. I think it's very comforting and valuable from a longer-term perspective.";1;1
MOOG INC.;2022-11-04;"First, it was a year in which the world order was redefined for
generation [indiscernible]. The Russian invasion of Ukraine in February changed the geopolitical landscape in Europe for decades.
 In Asia, escalating tensions over Taiwan and the consolidation of power in China under Xi Jinping further erodes the relationship with
the U.S. Combined, these events have redefined the global political landscape into an east-west divide, Déjà vu for those of us over
40.";3;4
MOOG INC.;2022-11-04;"While these global events are not necessarily positive for humanity, higher defense spending in the West represents a longer-
term tailwind for our business.
 Second, despite the geopolitical uncertainty, it was a good year for the company overall. Our adjusted year-end results met the
guidance we provided to the Street 12 months ago in terms of sales, margins and EPS.";2;2
CARDINAL HEALTH, INC.;2023-05-04;"We expected a little bit of an improvement
across the board, and we just haven't seen anything more than that outside of international freight. We do have some categories that
are just staying very high like nonwovens, where there's a bit of a geopolitical impact on those types of costs and not just on raw input
costs.
 And so that is something that may or may not change in the future.";1;3
ELRINGKLINGER AG;2019-08-07;"As we have already discussed
the main issues of the OE business above, I will now focus on the remaining segments. In regard to
Aftermarket, geopolitical tensions in key sales markets such as North Africa, resulted in a slight decline
in Q2 sales. Revenues stood at EUR 41 million and furthermore we made progress in tapping into the
Aftermarket business in Asia and North America.";1;3
HÖEGH LNG PARTNERS LP;2022-08-24;"As you can see, the global LNG demand
growth is projected to remain robust mainly driven by Europe and the Asian region. In the current geopolitical situation,
European countries will determine to secure both LNG and LNG import capacity to safeguard energy supply and shift
away from Russian pipeline gas.
 This has led to an increase in demand for FSRUs import facilities from countries such as Germany, the Netherlands, Italy,
Poland, Finland and others, typically looking to secure large capacity FSRUs with prompt delivery.";2;2
HINDALCO INDUSTRIES LIMITED;2018-11-02;"Let's now look at the broader economic environment on Slide 8. Overall, global economic activity
continues to remain strong despite challenges from surging crude oil prices, geopolitical uncertainties and
continuing trade tension among major economies. The U.S. economy performed strongly in Q3 CY '18 on
the back of strong consumer and government spending.";1;1
HINDALCO INDUSTRIES LIMITED;2018-11-02;"Therefore, the IMS has downward-revised
its global economic forecast to 2.7% for CY '18 compared to 3.9% reported earlier. The occurrence of
unfavorable trade conditions and geopolitical issues are posing risks to global economic growth.
 On the domestic front, economic growth continues to accelerate in the current financial year.";1;1
HINDALCO INDUSTRIES LIMITED;2018-11-02;"The RBI has maintained the
growth forecast at 7.4% for FY '19. However, depreciating rupee, inflationary pressure, elevated crude oil
prices and geopolitical tensions are the risk factors for the domestic growth.

 HINDALCO INDUSTRIES LIMITED FQ2 2019 EARNINGS CALL  NOV 02, 2018";1;1
OPEN LENDING CORPORATION;2022-08-04;"But yes, definitely a lot of inputs here in as we work through it from
a bottoms-up perspective. And I just kind of like to point to maybe just 3 real big drivers that went into our input is the
geopolitical environment has changed notably since we were last on the phone and the war in Ukraine has disrupted the
energy sector. Oil prices are at highs and gas prices.";1;3
THE HONEST COMPANY, INC.;2022-03-24;"I'll let Kelly also feedback on it. I think first and foremost, as you look at
the world and where it sits today versus from when we did the IPO, not only the geopolitical challenges, the supply chains,
the input costs headwinds as well as how consumer behavior continues to shift, we think it's super important that from a
visibility perspective that each of you, our investors, have clarity around our plans, and we are going to err on the side of
being more conservative. I think it's prudent.";1;1
ATOMERA INCORPORATED;2021-10-28;"The total IC market is forecast to grow 24% this year alone, so our
customers have built up significant cash war chests to invest in their future. Semiconductor industry is also being affected
by geopolitical forces like never before. U.S.-China trade tensions are driving governments around the world to look at
building or shoring up self-sufficient semiconductor infrastructure to enhance their own security.";3;3
HYZON MOTORS INC.;2022-05-06;"After
backing out the onetime charges as well as noncash items primarily related to the change in fair value of the earnout
liability, equity securities, private placement warrant liabilities as well as stock-based compensation and legal fees
incurred in connection with the short seller report. For Hyzon's 2022 business outlook, we are actively monitoring impacts
due to the Shanghai COVID lockdown, geopolitical uncertainties, disrupting supply chains globally. We will provide an
update in the second half of the year as we gain more visibility as it relates to deliveries.";1;3
CANADIAN UTILITIES LIMITED;2022-10-27;"And looking specifically at the situation here in Alberta, it's important to
recognize that transmission and distribution charges are just 2 of the many charts that make up a customer's utility bill.
 First, the commodity prices rose sharply in the face of the global supply chain pressures and rising geopolitical tensions and more than
doubling since last year. Using an average customers' gas bill, as an example, these commodity costs can account for more than 40%
of the total utility bill.";4;3
BOSSARD HOLDING AG;2022-07-21;"This means we'll face rather high price levels for our products also in
the second half of 2022.
 Another challenge is the geopolitical tensions in Europe. Overall, it may impact the European and global economy due
to war scenarios or energy shortages.";1;1
BOSSARD HOLDING AG;2022-07-21;"This plays into our hands as mentioned before. The geopolitical tensions may amplify the supply chain challenges
mentioned above, which we address with our supplier risk mitigation strategy, buying key products from multiple regions
and manufacturers. The Chinese COVID policy may lead to further lockdowns in the country.";3;3
VALERO ENERGY CORPORATION;2019-10-24;"We're pleased to report that we delivered solid financial
results despite challenging market conditions again this quarter. Although gasoline cracks held steady
and diesel cracks improved from the previous quarter, heavy and medium sour crude oil discounts to
Brent crude oil remained narrow as supply was constrained by geopolitical events. Also, the startup of
new pipelines from the Permian Basin to the Gulf Coast tightened the WTI Midland to Cushing crude oil
differential.";1;1
DANA GAS PJSC;2020-02-12;"We delivered both increased production and increased earnings, and 2019 saw us post our highest annual
profit in over 7 years. I would emphasize that this positive performance was delivered in the face of
the geopolitical challenges in our key operating regions, that everyone on this call already being all too
familiar with as well as the economic headwinds, notably, lower energy prices. Despite these challenges,
we were still able to execute successfully on our goals for the year.";1;1
MILLERKNOLL, INC.;2023-12-20;"By leveraging the synergies across our collective and
focusing on what is within our control, the team drove year-over-year margin improvement in all three areas of our business, again.
 And while we face relative high interest rates and geopolitical concerns, positive signs are emerging throughout our industry. Metrics
such as project funnel activity, order intake and recent measures of dealer optimism reflects that CEO confidence is improving.";1;1
MILLERKNOLL, INC.;2023-12-20;"As we mentioned in the press release, this marks the fourth consecutive quarter of consolidated year-over-year adjusted gross margin
expansion. Notably, these results were achieved in an environment largely affected by high interest rates and geopolitical concerns,
both of which influenced the housing market as well as sentiment measures. Our second quarter results reinforced themes that we've
communicated over the past several quarters, namely the impact of strategic pricing initiatives, ongoing benefits of acquisition-related
synergies, our focus on improved working capital management and product and regional mix optimization.";1;1
FRANCO-NEVADA CORPORATION;2023-08-09;"As a result, the sharp fall in energy prices impacted our GEOs sold
generated by our energy assets, which were 28,683 for the quarter compared to 50,387 in Q2 2022. As you will recall, energy prices
saw a sharp increase in 2021 and 2022 due to many factors with the largest being geopolitical tension.
 Slide 7 highlights our total revenue and adjusted EBITDA amounts for the 3 months ended June 30, 2023 and 2022.";1;3
CONTEXTLOGIC INC.;2022-11-09;"As a
reference point, our estimated revenues in October 2022, the first month of Q4 is expected to be flat or slightly down when compared
to our revenues in July 2022, the first month of Q3. As the global economy continues to experience uncertainty due to geopolitical
risks, high inflation and interest rate hikes, we will remain focused on operational efficiency and unit economics. Built upon the much
strengthened with foundation and with a strong sense of urgency.";1;1
NEX GROUP PLC;2017-11-20;"So I haven't got much choice, actually. And Sam has kindly covered the numbers for me and
Michael gave you a bit of the geopolitical backdrop. So I'm going to focus on giving you a snapshot of the
business and give you some feel for what you can expect in the months and years to come.";4;4
NEX GROUP PLC;2017-11-20;"In the fixed-income business, our BrokerTec team, who've managed to improve market share
in U.S. Treasury benchmarks yet again, and we are now averaging around 82% market share in, what is
by far the world's biggest government bond market and our U.S. repo business has also seeing improved
volumes year-on-year, but is now a EU Repo business which has really performed spectacularly over the
last 6 months. This is as a result of not only increased automation and electrification of that business,
even in the turn business, but also we've had a few geopolitical issues in Europe including for example,
the referendum in Catalonia, but the bottom line is, this is testament to the fact that BrokerTec is now
considered to be the really trusted source of liquidity for traders in those markets and they really -- they
rely on us, both in times of stress and for their daily workflow.
 In our foreign exchange business, other than what I mentioned to you with regards to EBS market and
our core currency pairs, we continue to see growth in Asian currency pairs, and specifically in NDS with
more than 25% year-on-year growth.";1;1
CABOT CORPORATION;2022-11-08;"We delivered record financial performance, achieved breakout growth in battery
materials, advanced a range of strategic initiatives, including the divestiture of Purification Solutions and further our leadership in
ESG performance. All of this was accomplished despite a turbulent macroeconomic and geopolitical environment. I am immensely
proud of the Cabot team for the resilience and adaptability they demonstrated throughout the year, and for their focus on execution and
support of our customers.";1;1
MFA FINANCIAL, INC.;2023-02-23;"As breathtakingly bad as 2022 was for fixed income and mortgage participants, it was not a total surprise to us at MSA. On our fourth
quarter 2021 earnings call a year ago, I stated that we expected ongoing rate volatility with inflation ranging at the time, the Fed on the
move and a tense geopolitical environment. For our first quarter 2022 earnings call, I remarked how similar 2022 felt to 1994 when
the Fed raised rates 6x for a total of 250 basis points.";1;1
HENKEL AG & CO. KGAA;2019-08-13;"In this
market context, Adhesive Technologies has delivered a robust performance. Despite top line pressures,
we have been able to improve profitability in a challenging market environment and with geopolitical and
economic risk high, we remained focused on leveraging the strength of our portfolio and business model,
and we continue to proactively manage through this industrial cycle.
 Beauty Care retail was significantly below our expectations.";1;1
HENKEL AG & CO. KGAA;2019-08-13;"Other than originally anticipated by most market participants, the
outlook for the full year further softened. While back in May, recovery of industrial production in the
second half was widely expected, this is not anymore the case mainly due to continuously high geopolitical
and economic risks. Here, the persisting trade tensions are particularly unhelpful.";1;1
AMERICAN HOTEL INCOME PROPERTIES REIT LP;2022-05-11;"Q1 improvements to the top line were accompanied by inflationary cost pressures. The impact of geopolitical events on
commodity prices, as well as the enduring effects of COVID disruptions on the labor markets and supply chain, impacted
operating margins. Q1 is always a quarter which is our most challenging from a seasonality perspective.";1;3
KESKO OYJ;2023-07-27;"On the other hand, employment is high and there is a shortage of skilled labor. The whole energy market has faced
a transformation and not to forget Russia's offense war in Ukraine and geopolitical tensions.
 The importance of good strategy growth in a challenging market.";1;1
ARCH CAPITAL GROUP LTD.;2022-07-28;"I think
that the uncertainty about the social inflation and what it could mean.
 And also other geopolitical risk, there's a lot of stuff going on in the world. I would expect this to continue well into 2023,
but I've been wrong before.";1;1
CENTURY TEXTILES AND INDUSTRIES LIMITED;2023-10-20;"We have won Society of Energy Engineers and Managers, SEEM's GOLD award successfully third time in row, this is about
improving energy efficiency by any manufacturing facility.
 Considering the constantly changing market dynamics against the backdrop of ongoing geopolitical crisis, we have shifted our focus
for maximizing productivity to optimizing cash flow, which involves closely monitoring our working capital and inventories. We
are developing new sustainable products by utilizing our dedicated state-of-the-art and R&D facility, design and supply chain.";3;1
DR. REDDY'S LABORATORIES LIMITED;2022-01-28;"Some of the prices did not go down yet to the original level, but I don't anticipate
additional inflation in that moment...
Damayanti Kerai
HSBC, Research Division
Very broadly, we can assume that the peak is over and price might see, I'll say, more moderation from here on?
Erez Israeli
CEO & Member of the Management Council
As much as 1 can predict it looks better now. Hard to predict with the pandemic and the geopolitical situation in the world,
there are so many more other big event, which would be...
Damayanti Kerai
HSBC, Research Division
And my second question is, can you talk a bit about your biosimilar portfolio, which you are working on? And which are
your target markets for key products?

DR.";1;1
DR. REDDY'S LABORATORIES LIMITED;2022-01-28;"Sir, the second question is on the Russia, Ukraine business. Given the geopolitical situation,
what's your read of the situation? Have you seen any disruption or any problem in a business that you are doing over
there?";1;1
SOGEFI S.P.A. FY NINE MONTHS;2023-10-23;"I would say we need to wait to see if there will be any impact on the material cost. The current energy,
let's say, increases are a bit too early to say if it's recurring or just some reaction of the market to geopolitical tensions in the world. I
don't see irrational or a big increase of material costs next year for steel, I don't see, except if there is a big boom on energy.";1;3
ROGERS CORPORATION;2019-10-30;"These challenges are continuing into Q4 with recent economic data pointing to
declining factory activity, lower industrial output and falling auto sales. In addition, the geopolitical tensions between China
and the U.S. which have resulted in trade restrictions on sales to Huawei, are impacting 5G demand. While Rogers is
able to continue sales to our direct fabricator customers, there is uncertainty regarding Huawei's ability to maintain 5G
deployments without certain U.S. components and whether the performance of its alternative base station design will be
acceptable.";3;3
BERGEN CARBON SOLUTIONS AS;2022-11-09;"We are working towards material suppliers, industry-leading companies and national
authorities to place Bergen Carbon Solutions on the industrial map and secure political attention.
 The development in the geopolitical situation with -- following disruptions in supply chains has made it more and more obvious that
there is a need for Europe to become more self-sufficient when it comes to critical raw materials. This is a megatrend that works in our
favor.";2;2
BERGEN CARBON SOLUTIONS AS;2022-11-09;"We have several exciting projects going on, for example, Project C,
where we are investigating how we can use our technology to mass produce graphite from CO2. This is really exciting because it can
enable us to utilize substantial amounts of CO2 while contributing to solve the geopolitical challenges in the raw material supply.
 Our main focus area is still in the battery sector.";2;2
BERGEN CARBON SOLUTIONS AS;2022-11-09;"And we have recently launched our Project C with the intention of investigating our ability to produce anode graphite directly from
the CO2 emissions. Overall, meaning that by implementing our technology in the European battery value chain, we can help sorting
out the geopolitical situation and reduce the European addiction for raw materials from, for instance, China.
 And this is why we have launched our newest project, Project C. With Project C, we are aiming to investigate our ability to produce
large volumes of graphite to support the European energy transition towards 2030.";2;2
GJENSIDIGE FORSIKRING ASA;2022-07-15;"Good morning and welcome, everyone. Since our last earnings call, global economic uncertainty and
market turbulence have reached new highs, fueled by persistent geopolitical risks and higher inflation. All of the Nordics
are not immune.";1;1
LIBERTY OILFIELD SERVICES INC.;2022-04-21;"North America oil and gas are critical in the
coming years. Tight oil and natural gas markets, coupled with geopolitical tensions in many key oil and gas producing
regions have all eyes on North American supply.
 The North American economy is proving more resilient to today's global challenges in significant part due to a secure
local supply of price advantage natural gas.";1;1
SHAWCOR LTD.;2023-05-12;"Our simplified portfolio of high-value materials-based products
has limited exposure to consumer discretionary spending and we believe has resilience in the face of recessionary forces.
 While we remain vigilant towards the potential impacts of geopolitical events, supply chain risks and higher interest rates, we also
remain confident our momentum will continue. We expect adjusted EBITDA in the second quarter of 2023 to approach the levels
achieved in the first quarter before rising very substantially in the second half of the year, driven by continued Composite Systems
growth and significant pipe coating activity, including elevated margin contributions from the Southeast Gateway Pipeline project.";1;1
ETTEPLAN OYJ;2023-02-17;"Of course, the uncertainty is also high, and it was high throughout the year due
to the war. And there were also geopolitical tensions that had impacts, for example, in China on our business.
 Then on the positive side, if there were on the consumer-driven businesses, there were negative signs to the demand.";3;3
ETTEPLAN OYJ;2023-02-17;"Impacts were
slightly higher, but still relatively similar impacts. And in China, of course, the geopolitical tensions did have an impact on the overall
demand. And then in China, where the COVID pandemic was still existing during last year, so in the beginning of the year, there were
restrictions that stopped certain activities which had an impact in the second quarter.";3;3
SAIPEM SPA;2019-02-28;"The harsh environment of offshore drilling market is
already showing signals of vitality, and demand in the Middle East remains good, but also competition is still tough. The
international onshore drilling market is expected to gradually recover with Latin America dynamics, depending on the
evolution of geopolitical issues. In the Middle East, demand remains significant, but competition, too.";3;3
SUMCO CORPORATION;2022-08-04;"This time around, the only way to increase production capacity is with greenfield expansion. This has coincided with
the emergence of geopolitical developments such as the invasion of Ukraine by Russia or the intensifying trade friction
between the U.S. and China, which has led to longer lead times for many items or longer delivery times.
 For example, even if we want to ramp up new equipment, it may not be possible for the supplier to send staff to provide
on-site support.";3;3
SUMCO CORPORATION;2022-08-04;"However, now, expanding production capacity can only be done with greenfield
investments, so it will take time for the capacity to come online. This is being exacerbated by the surge in geopolitical risks
as well as the ongoing pandemic impact.

 SUMCO CORPORATION FQ2 2022 EARNINGS CALL  AUG 04, 2022";3;3
SUMCO CORPORATION;2022-08-04;"I have one question. You have talked about geopolitical risk. If the U.S. were to block
sales of SPE to China, then I believe that semiconductor production in China would grind to a halt, which would lead to a
shortage in devices.";3;3
BEACON ROOFING SUPPLY, INC.;2022-05-05;"We expect end market demand remain strong even
as headwinds such as inflationary pressures, supply chain disruption and labor, and material shortages persist. Overall
macro indicators are mixed, and we will keep a watchful eye on economic and geopolitical developments. Residential
roofing demand and the residential-exposed areas within our complementary products will continue to benefit from R&R,
and new construction market tailwinds.";1;1
BEACON ROOFING SUPPLY, INC.;2022-05-05;"The rising trend in activity we saw begin
several quarters ago is expected to continue.
 The architectural billing index and overall sentiment remains positive watchful eye on economic and geopolitical
developments. Residential roofing demand and the residential exposed areas within our complementary products will
continue to benefit from R&R and new construction market tailwinds.";1;1
FIRAN TECHNOLOGY GROUP CORPORATION;2023-02-09;"[indiscernible] provided guidance of 3% to 5% growth for 2023.
 The defense market is government-funded and appears well supported in the near term due to increased geopolitical tensions across
the globe. Looking at the longer term, Boeing's most recent 20-year forecast shows long-term industry growth, and it continued to
show 40% of all new aircraft deliveries going to Asia as has been the case in the recent forecast.";2;2
FIRAN TECHNOLOGY GROUP CORPORATION;2023-02-09;"This is a onetime event and will benefit our Q1 2023 income and further strengthen our
balance sheet. With the more complex geopolitical situation in China, I'm sure there are questions [indiscernible] about our activities
there. In 2022, both our operations in China had their best sales year ever, and both were profitable.";1;1
FIRAN TECHNOLOGY GROUP CORPORATION;2023-02-09;"Also in
2022, the C919 aircraft development program achieved CAAC certification and we are finally in a position to see production orders
after 10 years of development. This will benefit our China operations going forward and make them less susceptible to geopolitical
uncertainties. But notwithstanding all this good news, we are being cautious about our operations in China, and any further increase in
tension between China and other countries could impact our operations there in the future.";3;3
CONCORDIA MARITIME AB;2022-08-17;"So the X factors, or the black swans that we need to keep an eye on. Obviously, geopolitical
instabilities with Ukraine, with Taiwan, and how that affects Western energy policy, sanctions and trade flows going
forward. We have the global economic situation and how much this will actually affect demand side.";1;3
MITHRA PHARMACEUTICALS SA;2022-03-08;"Here at Mithra, as you
know, women's health is really the heart of our concerns and our business. Before starting with the highlights of last year,
I would like to give a short comment about the geopolitical situation in Eastern Europe and the potential impact on our
company.
 As you know, we had foreseen the launch of Estelle in Russia in the third quarter of this year.";3;3
ENEA AB;2020-01-30;"Jan Häglund
President & CEO
Thank you, Simon. Yes, we have previously commented on the fact that geopolitical uncertainties create
potential delays on the market. And I think uncertainty and delay is not good for anyone.";1;1
ANDRITZ AG;2022-04-29;"Daniel Lion
Erste Group Bank AG, Research Division
Do you see any changes in CapEx patterns, especially related to the energy-intensive industries you're supplying through
Pulp & Paper in the end? Given the geopolitical tensions now related to energy and since potential risks to being short of
energy going forward, is there any change in investment patterns that you might see?
 Joachim Schönbeck
President, CEO & Member of the Executive Board";3;3
BLACKROCK TCP CAPITAL CORP.;2020-02-26;"However, we think domestic
political uncertainty including the pending 2020 presidential election could weigh on business investment
decision-making and long-term capital expenditure planning. In addition, geopolitical volatility and other
disruptions like the coronavirus continue to create uncertainty.
 While the economic outlook may be uncertain, our team is focused on delivering the results our
shareholders have come to expect from TCPC.";3;3
UBS GROUP AG;2020-07-21;"Operator
The next question is from Kian Abouhossein from JPMorgan.
 Kian Abouhossein
JPMorgan Chase & Co, Research Division
The first question is about geopolitical issues, clearly, Hong Kong and China. If you can just comment how uncertainty and
other issues, clearly, they are affecting your business.";3;3
UBS GROUP AG;2020-07-21;"And I expect that really good collaboration to continue going forward as well to help both
businesses.
 Sergio P. Ermotti
Group CEO & Chairman of Group Executive Board
So Kian, on geopolitical uncertainties, I have to say that in the last few weeks, we haven't really seen any major impact on
client activity per se. I would say that we are monitoring the situation carefully as clients are doing the same.";4;4
UBS GROUP AG;2020-07-21;"So I'm not overly concerned
about that.
 If I look also in the second half of the year, one has to also look at those geopolitical tensions, both in Asia, but also
in the U.S. As I mentioned before, if you think about 61% of the investor telling you that they will change their asset
allocation, regardless of the outcome of the elections, makes me comfortable that there is an element of transaction
activity and business that will likely to happen in the second half of the year.";3;3
ATOS SE;2017-07-26;"So this is an answer to
your potential concern. If we had, let's say, a geopolitical problem in this region it will not impact us and
we will be able to cope with other GBUs. But regarding the solidity of our business, we'll continue to grow
quarter-after-quarter, and that's a very solid one.";1;1
KIRKLAND'S, INC.;2022-05-31;"Like many of our
peers, our first quarter results were significantly impacted by lower customer demand and higher costs associated with
various supply chain constraints. Anyone who has been paying attention to the consumer commentary over the last few
weeks knows that the broader retail landscape is being notably affected by several concerning macroeconomic trends,
including rising interest rates, elevated levels of inflation, the ongoing geopolitical conflict between Russia and Ukraine
and increased supply chain costs stemming from higher freight costs and transportation rates.
 Kirkland's is not immune to these issues.";1;1
NOF CORPORATION;2022-11-18;"In Japan, as socioeconomic activities continued to normalize, there were signs of a pickup in consumer spending, capital investment
production activities, and other areas. Although the Group continued to face concerns over global raw material price hikes,
semiconductor supply shortages, the Ukraine crisis, and other geopolitical risks, overall domestic and overseas demand remained
strong, resulting in consolidated net sales, consolidated operating income, consolidated ordinary income, and net income attributable
to owners of the parent all exceeding those for the same period of the previous year.
 In H2, as we move into a new phase of living with COVID-19, which will further strengthen the balance between infectious disease
control and socioeconomic activities, we will continue to closely monitor risks such as semiconductor supply shortages, rising raw
material and fuel prices, and a downturn in overseas demand, while expecting a normalization of economic activities.";1;1
NOF CORPORATION;2022-11-18;"I will answer the question.
 First of all, the main reasons for the decline in sales increase/decrease are the ongoing geopolitical risks from the recent invasion
of Ukraine by Russia, supply chain instability, and semiconductor supply shortages. These are still partially out there.";3;3
CELSIA S.A. E.S.P.;2023-05-10;"Unknown Executive
Yes, when we do it. We do it by the increase that due to geopolitical factors. We had -- there was an adjustment in the CPI.";4;4
AGREE REALTY CORPORATION;2023-05-05;"On earlier calls, I stressed that we would avoid moving up the risk curve or shifting
our strategy. We have been very successful leveraging our relationships and core competencies to identify extremely high-quality
opportunities as economic and geopolitical uncertainties remain.
 During the first quarter, we invested over $314 million in 95 high-quality retail net lease properties across our 3 external growth
platforms.";2;2
JOHNSON MATTHEY PLC;2022-05-26;"And in terms of phasing, we are following an exceptionally strong first
half last year so our year-on-year performance will be significantly weighted towards the second half.
 Longer term, the current geopolitical situation is likely to drive significant acceleration towards a net zero carbon economy,
which will position us really well for long-term growth. So in summary, we've delivered a robust performance in challenging
market conditions.";2;2
BOSTON PROPERTIES, INC.;2019-07-31;"As a result, central banks around the world are turning accommodative. There are
also geopolitical risks including a U.S. trade war with China, no-deal Brexit and tensions in the Middle East.
 Lastly, in the U.S., growth has become more narrow and consumer reliant and corporate earnings are also down modestly
in 2019.";1;1
NEW YORK MORTGAGE TRUST, INC.;2017-11-03;"The company, like everyone else, will continue to diligently
monitor the activities in Washington, including the new tax proposals just released yesterday.
 The impact from the newly announced Fed Chairman, which was also released yesterday as well as other
geopolitical events that seem to be never-ending in -- both in our country and around the world. We
continue to believe that our portfolio is well positioned to adapt to these changing markets and economic
environments and look forward to speaking to you in the future.";1;1
ADVANCED ENZYME TECHNOLOGIES LIMITED;2023-11-10;"The economic landscape remain volatile, plus inflation across the globe continues to challenge economic
stability in various parts of the globe. The geopolitical situation also could have some impact on crude prices, increased interest rates
and cautious spending by customers amidst global geopolitical tensions. Specialty chemical industry is experiencing a slowdown on
account of the sluggish export demand in some of the geographies like U.S., Europe and Lat Am.";1;1
PARK HOTELS & RESORTS INC.;2018-11-02;"And then one more on the asset recycling topic, if I may. How has inbound interest from
overseas buyers been trending, given the strength of the dollar and geopolitical noise and the like? And
then maybe you could just talk about what you're seeing in the major buckets of buyer types out there
right now?";4;4
ALTAGAS LTD.;2022-03-04;"The unfortunate events that have been unfolding in Eastern Europe
illuminate the critical value of energy independence and diversity. These events are already producing far-reaching
geopolitical implications regarding energy security.
 Germany recently announced plans to further diversify its energy supply with the recent announcement of planned
additions for 2 new LNG terminals, as well as numerous discussions by foreign countries related to the investment and
long-term contracting of diverse energy supply.";1;2
ALTAGAS LTD.;2022-03-04;"Your first question comes from Linda Ezergailis of TD Securities.
 Linda Ezergailis
TD Securities Equity Research
Just wondering, beyond the broad industry implications on recent unfortunate geopolitical events and the clear value of
Western Canadian and North American energy security and supply, how are you thinking about maybe the implications
that might have on AltaGas' strategy? And maybe any specific operational potential impacts beyond constructive demand
fundamentals?
Randall L. Crawford
President, CEO & Non-Independent Director
Linda, this is Randy.";4;4
ALTAGAS LTD.;2022-03-04;"Thank you for the question. Specifically, on the geopolitical unrest and the impact on AltaGas,
specifically, I would say there's not an impact overall. But as I said in my prepared remarks, we're seeing a lot of interest
from foreign markets that are interested in controlling their destiny around energy.";3;2
ALTAGAS LTD.;2022-03-04;"Linda, so we are seeing an increased response in some of the supply basins that we, of course, access.
 And that's primarily driven, as you alluded to, to the geopolitical events. We're also seeing an increased focus on those
producers responding to an increase in the climate initiatives.";3;3
ALTAGAS LTD.;2022-03-04;"spglobal.com/marketintelligence
14
Operator
Your next question comes from Ben Pham of BMO.
Benjamin Pham
BMO Capital Markets Equity Research
I wanted to start with your comments around derisking your business over time. And I'm wondering to your comments
around the geopolitical risk and pipe supply commodity prices rising. Has -- is that enough or has that changed your view
on maybe the pace at which you're looking to derisk or hedge your business over time or is it's status quo from before?";3;3
LIBERTY MUTUAL HOLDING COMPANY INC.;2022-02-24;"And I think that's where the closure of courts and some of the uncertainty still lingering
post COVID continues to drive that uncertainty.
 What I would also say is that we do think that the geopolitical shifts that we're seeing occurring right in front of our eyes,
as we look at today, continue to drive this focus around the uncertainty underlying these loss cost trends. So that's broadly
what I would say to you.";3;1
LIBERTY MUTUAL HOLDING COMPANY INC.;2022-02-24;"That's helpful. Speaking about the geopolitical issue, with some of your specialty lines or maybe looking at the Lloyd's
businesses, is there exposure to that region, the Russia-Ukraine region? Is there any, or do most policies exclude war
damage and so forth?";4;3
HONEYWELL INTERNATIONAL INC.;2023-02-02;"Now with that, I'll turn the call back over to Darius on Slide 10.
Darius E. Adamczyk
Chairman of the Board & CEO
2022 was another year of both challenges and progress for Honeywell. Despite another host of macroeconomic and geopolitical
difficulties, we attacked the challenges we faced head on. We overdelivered on our financial commitments.";1;1
CAZOO GROUP LTD;2023-10-25;"We now expect to finish
the year with between GBP 100 million and GBP 115 million of cash and cash equivalents, and between GBP 20 million and GBP 30
million of self-finance inventory.
 Higher interest rates, high used car prices, rising insurance premiums and the recent spikes in fuel prices, driven by geopolitical
conflicts means higher cost of car ownership to customers. Demand for used cars will remain volatile.";1;3
MARICO LIMITED;2022-11-04;"If you could kind of give some comments on that,
please?
Saugata Gupta
MD, CEO & Executive Director
 So I think when we gave that comment, we expected that the global geopolitical and the situation will have a solution, that solution
hasn't happened. We continue to experience that inflation.";1;3
NORWEGIAN ENERGY COMPANY ASA;2022-05-10;"A significant
underinvestment in gas supply for almost a decade was one of the main drivers at a time. And for the past 2.5 months, a
devastating backdrop has added significant geopolitical strain on the energy balance in Europe.
 Energy security is critical.";3;3